[miningmx.com] – THE government of Guinea said it had completed a review of a permit agreement for one of the world’s largest untapped iron ore deposits with Beny Steinmetz’s BSGR.
Bloomberg News reported that the results of the review, which question the validity of BSG’s 49% stake in the Simandou iron ore deposit, would be made public shortly. BSGR planned to spend $10bn on the project in joint venture with Vale.
BSGR has questioned the motives for the review. “The committee is using fabricated evidence, but the reality is BSGR followed the law,’ the company said. “The extraordinary manner’ in which the review was done shows that the “committee was established to provide a pretext to illegally seize our assets in Guinea.’
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