Page 28 - Beyla News Today

Since the 2021 coup Guinea’s new rulers have promised that the mining sector will operate in the interest of the country, but dependence on international mining companies is softening the junta's stance.

The two consortia involved in the Simandou iron ore project seem to be reluctant to pledge the $500m sought by the construction groups to restart the rail construction work that was stopped in 2022.

The drums of war have been beating loudly over the past two weeks. But there is a commercial logic to China avoiding a war that would cripple its economy.

Guinea's transitional government ordered work to stop last July to try to force the shareholders to agree on joint venture terms.

Market regulators found the company breached accounting and bookkeeping standards when paying millions to a Guinean political advisor in 2011.

The benchmark Australian share index rose 0.5 per cent to 7364.7 after the Reserve Bank of Australia pulled the trigger on its tenth consecutive rate increase.

The charges laid by the US corporate watchdog relate to a scheme where the miner’s agent allegedly offered an improper payment to a government official to retain the rights to its Simandou project in Africa.

The Rio Tinto Limited (ASX: RIO) share price has been called a buy by leading broker Goldman Sachs thanks to a higher iron ore price.

Anglo-Australian mining giant Rio Tinto will pay a $US 15 million penalty to settle an investigation into payments made to a consultant.

Rio Tinto (RIO) agreed to pay a $15M civil penalty to settle a Securities and Exchange Commission investigation involving an alleged bribery scheme involving iron ore deposits in Guinea