Senosi buys Mooiplaats coal mine
South African miner Matthews Senosi has received approval from the authorities to buy yet another mine in Mpumalanga, ideally located next to an Eskom power plant.
After losing to the Guinean state, which it accuses of expropriation, the Franco-Israeli billionaire's company, Beny Steinmetz Group Resources (BSGR), is seeking to overturn the decision of the World Bank arbitration tribunal. It is invoking the out-of-court settlement obtained by Nicolas Sarkozy in 2019.
Despite being removed from the Namibian Chamber of Mines and expelled from the Swartmodder copper mine in September, Chinese group Africa Huaxia Mining is nonetheless embarking on an all-out expansion in the country. Under the guise of multiple subsidiaries, it is racking up new mining licences.
On top of a state coup, the departure of its majority shareholder Sir Mick Davis and intrinsic logistical issues on its Zogota iron ore project, Niron Metals is facing yet another major hurdle: its rights to the site only covered a feasibility assessment which even that, it is struggling to finish.
The arrival of a military junta in Conakry opens a new stage, the outcome of which remains uncertain, in the saga of the 2019 agreement between Beny Steinmetz's group and Alpha Condé over the Simandou and Zogota iron ore projects.
Israeli businessman Beny Steinmetz and American billionaire philanthropist George Soros have both come out all guns blazing to have their interpretation of the law accepted in their court battle over Simandou, which restarted recently in the US.
Niron Metals, run by Mick Davis, former Chief Executive of the British Conservative Party and to which Beny Steinmetz is linked, has a clear plan to mine the Guinean Zogota iron ore project, after reaching an agreement on the Simandou blocks.
The Brazilian firm Vale has filed a legal action seeking to establish if part of the funds that it paid to Beny Steinmetz's company within the framework of their Simandou iron ore partnership in Guinea was used for property investments in the United States.
Highly costly, remote and often the object of an international dispute or arbitration, iron ore projects in Guinea have been struggling in recent years. The Conakry authorities are working hard to turn the situation around, especially to develop Simandou and