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GUINEA

In the midst of coup, Monaco Resources shakes up bauxite mine leadership

A few days before the coup that ousted Alpha Condé, Monaco Resources's subsidiary Société des Bauxites de Guinée, which operates a bauxite mine in the country, decided to part with its managing director. [...] (262 words)

Issue dated 08/09/2021 Reading time 2 minutes

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Mining

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GUINEA
Alpha Condé
Francis Perani
Ghantoot Group
Marine Contracting and Infrastructure
Marlyatou Baldet
Metalcorp Group
Monaco Resources Group
R-Logistic
Samir Idrissi-Ouaggag
Société des bauxites de Guinée
Société guinéenne d'investissement et de commerce

Monaco Resources under scrutiny from European audit regulators

Britain's audit watchdog is investigating whether the accounts of MRG UK, a British subsidiary of the Monaco Resources group, which is very involved in Africa, have been properly certified. Other European regulators have also debated whether to investigate the conglomerate's bookkeeping. [...]

GUINEA Mining 19/10/2021

UAE's Ghantoot Group authorised to take Monaco Resources to arbitration over bauxite deal

A dispute between Monaco Resources and Ghantoot Group at a Guinean bauxite mine hides another more fundamental conflict over the capital of Société des Bauxites de Guinée. That dispute will need to be dealt with by the International Chamber of Commerce in France. [...]

AFRICA SIERRA LEONE Finance Mining 14/10/2021

Canadian and Icelandic funds continue to target African bauxite

GreenBank Capital and JV Capital's planned takeover of Sierra Leone's Port Loko bauxite project via Ubique Minerals may have fallen through, but they are still looking for high-potential deposits in the country and further afield on the African continent. [...]

GUINEA Mining 07/10/2021

Monaco Resources and its co-shareholder back in court

On 8 October, a hearing over a contested increase in capital by Société des bauxites de Guinée, majority-owned by Monaco Resources, will take place. [...]

GUINEA Mining 14/09/2021

Decision made on Dynamic and SMB's buoy of contention

Despite the coup, the government has taken action to remove a buoy standing in the way of the bauxite miner's plans to evacuate ore from its Guinean site by sea. [...]

GUINEA Diplomacy 10/09/2021

African presidents discuss Alpha Condé's exile behind closed doors

Ahead of the diplomatic mission dispatched by ECOWAS to Conakry on September 10, secret negotiations over the departure of Guinea's president Alpha Condé, who is being held by the coup leaders, have been taking place. [...]

BELGIUM MONACO Finance Business 10/09/2021

Monaco goes to Belgium to bat for MRG

Monaco Resources Group (MRG) is counting on an official visit by Monaco's government to Antwerp at the end of September to reassure its Belgian creditors and partners on the situation in Guinea, where MRG has a strong presence. [...]

GUINEA Politics 08/09/2021

Condé clique starts to rally Doumbouya

Since Alpha Condé was ousted, most of his officials seem willing to cooperate with the junta. But some officials, including those from the defence ministry, have gone further and appear to have given their full backing to Col Mamady Doumbouya. [...]

Spotlight

GUINEA Mining Business 07/09/2021

Unpanicked by coup, mining groups start planning for transition

The ousting of President Alpha Condé by Col Mamady Doumbouya has not, as yet, affected the country's mining operations. In company headquarters, mining executives are waiting for the junta's next moves and making plans to manage the transition. [...]

GUINEA Mining 15/07/2021

Dynamic Mining to use Monaco Resources staff for its bauxite mine

India's Dynamic Mining has just hired the former operations manager of Monaco Resources' subsidiary SBG, not long after it also hired its infrastructure planner, in the hope that its Bon Ami bauxite mine will soon be operational. [...]

GUINEA Mining 14/06/2021

EY arbitrates in Monaco Resources vs MCI dispute

René-Marie Kadouno, the country managing partner of the accounting and consulting firm EY in Guinea, received representatives from Société des bauxites de Guinée and Marine Contracting and Infrastructure. [...]

GUINEA Infrastructures Mining 04/03/2021

Monaco Resources runs into conflict with its Garafiri bauxite partners

Monaco Resources is facing protests over its management of the Garafiri bauxite project. It has been threatened with legal action over payments arrears by the company building the infrastructure needed for the project, while its fellow shareholder is contesting an increase in the capital of their joint project company which he says has diluted his stake in the company. [...]

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GUINEA
Alpha Condé
Francis Perani
Ghantoot Group
Marine Contracting and Infrastructure
Marlyatou Baldet
Metalcorp Group
Monaco Resources Group
R-Logistic
Samir Idrissi-Ouaggag
Société des bauxites de Guinée
Société guinéenne d'investissement et de commerce

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