Guinea Govt Approves Proposal to Strip BSGR, Vale of Mining Permits

Posted by Michelle Howard
Thursday, April 17, 2014

Guinea's government has approved a report recommending that BSG Resources (BSGR) and its joint venture partner, Brazilian mining giant Vale, be stripped of two iron ore concessions, a Guinean government source said on Thursday.

 

The recommendations were made in a report by a committee charged with reviewing the West African nation's mining deals released last week, which accused BSGR of obtaining the rights by corruption. BSGR, the mining branch of Israeli billionaire Beny Steinmetz's conglomerate, has denied the allegations and said it would seek international arbitration.

 

"The cabinet has approved the technical committee's recommendations," the source, who asked not to be named, told Reuters after a cabinet meeting on Thursday.



The committee's report recommended that Guinea withdraw the mining permit held by VBG, the joint venture between BSGR and Vale, in the giant Simandou iron ore deposit and cancel its Zogota mining concession.



It also called for the government to exclude VBG from any future process to re-allocate the licences.


(Reporting by Saliou Samb; Writing by David Lewis and Joe Bavier, editing by David Evans)

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Energy

Ocean Mineral Singapore Set for Seabed Exploration

Ocean Mineral Singapore Pte. Ltd. (OMS) has received approval from the International Seabed Authority (ISA) on its application for its first seabed exploration licence.

Suicide Attack Escalates Libya Violence, Oil Output Slips

Crude output slips for first time since port deal; fresh clashes in Tripoli and Benghazi. Brega oil port seen open in few days. A twin suicide bombing at a Libyan

Maine Port City Bans Oil Loading

City councilors in South Portland, Maine, voted late Monday night to ban the loading of crude oil onto tankers along its waterfront, throwing up yet another roadblock

News

VIDEO: HMS Queen Elizabeth Floats Out

A timelapse video of HMS Queen Elizabeth floating out of her dock for the first time is now available at http://www.youtube.com/watch?v=P0ZjQz9vEKw. The float out of the 65,

GE, LR Study Gas Turbines for Commercial Ships

GE Marine and Lloyd’s Register Sign Memorandum of Understanding to Collaborate on Applying Gas Turbines to Power Commercial Ships GE Marine and Lloyd’s Register

Hyundai Heavy Industries Develops HiCASS

Hyundai Heavy Industries Co., Ltd. (HHI) announced today that it developed Hyundai Intelligent Collision Avoidance Support System (HiCASS) for the first time in

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Salvage Ship Repair Ship Simulators
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0863 sec (12 req/sec)