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Vol 49 No 6

Published 14th March 2008


Guinea

King Bauxite

Known as the Bauxite King, Victor Dahdaleh is at the centre of a US case in which the Gulf State of Bahrain accuses him and the US company Alcoa of running a conspiracy involving overcharging, fraud and bribery to the tune of more than US$1 billion. The state-owned Aluminium Bahrain started the action in Pittsburgh Federal Court on 28 February, claiming it has been overcharged for alumina imports over the last 15 years. It accuses Dahdaleh, who is named in the action, of operating an elaborate system of accounts to conceal the overcharging and to provide kickbacks to compliant government officials. Much of the alumina sold to Bahrain was extracted from bauxite produced in Guinea, which holds about a third of the world's reserves of bauxite and is the second largest producer after Australia.

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