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Vol 53 No 20

Published 5th October 2012


Guinea

Miners get bad reviews

Beny Steinmetz Resource Group and Rusal are in the government’s sights as it prepares to publish its review of the major mining contracts

A review of Guinea’s biggest mining contracts due this month will raise new questions about the future of the US$10 billion Simandou iron-ore project. The report will also test the credibility of the mining strategy launched by President Alpha Condé’s government after it came to power in December 2010. Advised by luminaries such as George Soros and Tony Blair, the government has reviewed the mining code and launched a review of mining contracts awarded by successive military-led regimes. Legal and political battles now loom as some of the losers fight back.

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