Tax authorities order mining companies to pay their dues quickly
Tax authority director general Mory Camara and his staff have sent out a number of letters to the mining companies in recent weeks, ordering them to pay their dues quickly.
The CEO of Monaco Ressources, Alex Fischer, who sued Africa Intelligence for 'invasion of privacy' following the publication of an investigation into his career, has seen his claim definitively dismissed by a Paris court last month.
Senegalese businessman and former minister Ahmed Khalifa Niasse is about to drag the Guinean president through international courts to claim $30m in damages for being "expropriated" of a piece of land he bought in 2008 that is now the site of the luxury Grand Sheraton Conakry.
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.
The state company responsible for marketing Guinea's national mining output, Soguipami, is hoping a local subsidiary of the omnipresent Monaco Resources will help increase its sales, though the Monegasque firm has had trouble getting its projects off the ground in the country.
In less than 10 years, Monaco Resources has become a major player in African commodities. Until now, it has been quite secretive about its shareholders and the backgrounds of its executives, but is finding it increasingly hard to maintain this stance as it grows in size and is forced to jostle for position on highly competitive markets.
In less than 10 years, an enigmatic Monaco company, Monaco Resources, has established itself in all sectors of the African economy - from mines and agri-business to port logistics and trading. Its rapid but uncharted success has been financed by borrowing on European bond markets.