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.
Guinea, which re-established diplomatic relations with Israel in 2016, has been concerned to see the DRC, Senegal and other countries competing for the favours of the Jewish state in recent years. It plans to take steps to ensure that it stays in the good books of the authorities in Tel Aviv.
Fadi Wazni's Guinean mining logistics group United Mining Supply (UMS) is continuing to look for a site for an alumina refinery in Guinea but has entered a bid to buy one ready-made in France, as it looks to meet ever increasing demand from its Chinese clients.
Abdoulaye Magassouba has set up a committee to monitor development on the four Simandou iron ore blocks and made himself its chairman. In this way, he intends to have full control of all decisions relating to this mining project, crucial to Guinea's economic future.
Investment giant BlackRock's shares in Rio Tinto is reason enough, claims Israeli businessman Beny Steinmetz, to file a discovery request in New York as part of efforts to ward off the Australian mining firm's compensation claim over the vast iron ore mine in Guinea.
On 13 March, the Guinean president Alpha Condé approved by decree the start of talks between his country and Total with a view to reaching a deal on the terms and conditions for exploring blocks A4 and C2, only for the process to be put on hold due to the Covid-19 pandemic.
Published on 19/05/20 at 1 pm. The mining convention covering blocks 1 and 2 on the Simandou iron ore mining project, which were put up for sale following settlement of a dispute between former owner Beny Steinmetz Group Resources and the government, has been finalised.
Other than a set of international mining giants, the bidding round launched by the Guinean government in July for the blocks formerly owned by Beny Steinmetz Group Resources (BSGR) on the Simandou iron ore deposit has caught the attention of