Breaking News:

X


Skip to main content

Beny Steinmetz settles dispute with Guinea over iron ore project

Mining group agrees to walk away from Simandou project, with all legal actions ceasing

The mining group controlled by the controversial tycoon Beny Steinmetz is to walk away from a massive iron ore project in Guinea as part of an agreement that settles a long-running corruption dispute with the west African nation.

Development of Simandou – one of the world’s biggest iron deposits, containing billions of tonnes of high-grade ore – has been hindered by years of legal wrangling as well as the enormous cost of the required infrastructure, estimated at more than $20bn (£15bn).

Continue reading...

from World news | The Guardian https://ift.tt/2GKAvAM
Labels:

Comments

Post a Comment

Popular posts from this blog

Australia cast itself as the hero of East Timor. But it was US military might that got troops in | Paul Daley

Newly released diplomatic cables show the realpolitik behind the scenes as Indonesian militias prepared to torch Dili Australia’s precise role in bringing independence to Timor-Leste two decades ago continues to simmer as unsettled business at the heart of modern Australian diplomatic and military history. Twenty years is the blink of an eye, of course. And my memories of having a front-row seat on the Australian domestic politics, and the diplomatic and military movements preceding and following the East Timorese autonomy ballot, are vivid. Continue reading... from World news | The Guardian https://ift.tt/2HxB0Ni
Post a Comment
Read more

The Karida massacre: the start of a new era of tribal violence in Papua New Guinea

The shocking killing of 18 people in a highlands village may have ‘changed everything’, warns police minister The pictures that came out of a remote highlands village in Papua New Guinea two weeks ago were not, at first glance, particularly graphic: bulging cocoons of blue mosquito nets hanging from wooden poles propped along a roadside. But the story they told was gruesome. Continue reading... from World news | The Guardian https://ift.tt/2Osa5IL
Post a Comment
Read more