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Vol 55 No 9

Published 1st May 2014


Guinea

Rio's grand suit

No sooner had the Guinean government cancelled the licences of Beny Steinmetz and Brazil's Vale for the Simandou iron ore deposit than Rio Tinto sued them in New York. The claim for 'compensatory, consequential, exemplary and punitive' damages also names Beny Steinmetz Group Resources (BSGR), intermediaries for Steinmetz and several Guineans, including ex-Mining Minister Mahmoud Thiam (AC Vol 55 No 8, Beny fights on). The suit puts a new spin on the story.

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