Posts

“He Met Alpha Condé, He Corrupted The Process”

The Telegraph newspaper reported that Steinmetz blamed Soros’ advice to Guinean president Alpha Condé for the mess BSGR is in. Read more

Rio Tinto Bogged Down In Legal Fights From African Ventures

Whenever there is bad news out of Africa for mining giant Rio Tinto, a powerful group of people gather in the boardroom of the company’s headquarters off St James Square in London. Read more

The Fall of Beny Steinmetz, Once Israel’s Richest Man

The arrest of Beny Steinmetz on Monday morning over suspicions of bribery and corruption in Africa is just the latest setback for the Israeli billionaire. Read more

Rio Tinto Instructed Private Investigators To Dig Up Allegations Against BSGR

BSG has jumped on the emails Rio Tinto says it found in August that proved the company had paid an associate of Guinean president Alpha Condé US$10.5 million. Read more

Former Guinea Mines Minister Charged With Taking $8.5M In Bribes

The former minister of mines and geology for the African Republic of Guinea was arrested on Tuesday in New York and charged with taking $8.5m in bribes in exchange for assigning lucrative investment rights to a Chinese-owned conglomerate. Read more

Audio Recordings Drag Guinea President Into Mine Bribery Scandal

The consultant who was paid $US10.5 million by Rio Tinto for helping recover iron ore concessions in Guinea had “privileged” access to the African nation’s president and had “acted hand in hand with Guinean authorities” it has been claimed on French television. Read more

Guinea: Ex Mines Minister Alleges He Was offered Bribe Over Simandou Project

A former minister of mines of Guinea, Mahmoud Thiam has told Bloomberg that the head of Rio Tinto’s Guinea operation, Steven Din, offered him a bribe six years ago. Read more

Rio Tinto Fires Two Senior Executives Amid Payment Investigation

Rio Tinto, long the bluest of blue-chip companies, finds itself mired in a corruption scandal over how it was able to secure a fabulously large iron ore project in the jungles of the Simandou Mountains, in the historically corruption-challenged west African nation of Guinea. Read more

Chinese Buy World’s Largest Mining Project

World number two miner Rio Tinto is exiting the world’s largest mining project, by selling its stake in Guinea’s Simandou iron ore to partner Chinalco, potentially opening up a new path to development for the $20 billion project. Read more