Conakry has demanded payment of a debt dating from 2006 for the sale of the state's shares in Societe Miniere de Dinguiraye to Crew gold, the former owner of the mine that sold it in 2010 to Alexei Mordashov's group.
Companies linked to Mauritanian businessman Yacoub Sidya are omnipresent around the African operations of Russian miner Nordgold, which was hit by sanctions after Moscow's invasion of Ukraine. The gold mining firm, however, takes great care to remain in the background.
Georgy Smirnov, the new managing director of the Russian gold company, travelled discreetly to Burkina Faso's capital to try and reach an agreement with Ibrahim Traoré's junta on its gold exports and the future of its Taparko, Bissa and Bouly sites.
Despite the sanctions imposed on its main shareholder, the Russian mining company Nordgold is busy shifting its stocks of gold mined in Guinea to Dubai, where it is getting it refined. It is a complex circuit and a tightly guarded operation.
Just as world leaders meeting in Germany for the G7 summit look to ban Moscow from exporting gold extracted from its soil, Russian firms have turned to Ankara, where they have found all the necessary expertise to refine and sell gold they have mined abroad, and especially in Africa.
The gold producer Nordgold, which has just announced the closure of one of its mines in Burkina Faso, claims to have found an alternative solution for refining its African output, which was an early victim of the sanctions targeting Russia and Nordgold's owner, oligarch Alexey Mordashov.
Alexey Mordashov, who has been put on the British Treasury's sanctions list following the Russian invasion of Ukraine, is struggling to find a refiner for the gold produced by his UK-listed Nordgold group in Burkina Faso and Guinea.
The launch by Alexey Mordashov's Severgroup of proceedings against the French state over the 'Montagne d'Or' case involving a vast gold-mining project in French Guiana has sparked lively interest from the small community of arbitrators and business diplomats in Paris.