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Vol 53 No 13

Published 22nd June 2012


Guinea

A new battle to control the mines

The collapse of an opaque scheme to set up a multi-billion dollar national mining company prompts recriminations in Conakry and South Africa

The Guinean government’s decision this week to shut down a bid by South African businessmen who wield high-level political connections, to run its national mining company follows growing pressure from international financial institutions and multinational mining companies. The scheme would have put the group in a privileged position to take a stake in some of the most valuable mining assets in the country and up to 50% of the equity in the planned national mining company.

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