Page 63 - Simandou News Today

UPDATE 3-Swiss court finds Israeli businessman Beny Steinmetz guilty of corruption Reuters 1/22/2021 By Stephanie Nebehay GENEVA, Jan 22 (Reuters) - In a landmark verdict in one of the mining worlds most high profile legal cases, a Swiss criminal court found Israeli businessman Beny Steinmetz guilty of corruption and forgery on Friday and sentenced him to five years in jail with a sizeable fine. The ruling after a two-week trial is a blow for Steinmetz, a diamond trader, whose pursuit of the ...

Israeli businessman Beny Steinmetz has been found guilty of corruption in Switzerland in a dispute over the worlds richest untapped deposits of iron ore.   Steinmetz, who made his name in the diamond business, was indicted in August 2019 by a Geneva prosecutor over deposits at the Simandou mine in Guinea. On Friday, judges found him guilty of corrupting foreign agents and forging documents, sentencing him to five years in jail and a fine of $56million. Steinmetz and two aides had been accuse...

By Reuters Staff 4 Min Read (Reuters) - Simandou in Guinea is home to the world’s richest untapped deposits of iron ore but legal wrangling, alleged corruption and the difficulty of access to the mountain region mean it has yet to be developed. Israeli billionaire Beny Steinmetz arrives at a courthouse ahead of the verdict of the trial for corruption and forgery charges in connection with mining contracts in Guinea, in Geneva, Switzerland January 22, 2021. REUTERS/Denis Balibouse On Friday, a...

Beny Steinmetz found guilty of bribery in Swiss trial  Mr Steinmetz has always denied allegations of wrongdoing and said he will appeal the ruling all the way to the Supreme Court 22 January 2021 • 7:52pm Diamond tycoon Beny Steinmetz has been convicted of paying bribes to gain lucrative mining rights and sentenced to five years in prison. The 64-year-old and two co-defendants were found guilty in a Swiss court of variously paying or arranging ­payment of $8.5m (£6.2m) in bribes to Mamadie...

Wearing a mask and flanked by his lawyers, Steinmetz – who has French and Israeli citizenship – calmly listened and jotted down notes as the judge, Alexandra Banna, read the facts of the case and the verdict over two hours. Attendance in the Geneva courtroom was limited due to Covid-19 concerns. The Geneva prosecutor’s office alleged that Steinmetz and two other defendants engaged in corruption of foreign officials and falsification of documents to hide the paying of bribes from authoriti...

Rio Tinto’s biggest profit in nine years could be just the start, with the miner signalling it could capitalise on stratospheric iron ore prices by shipping record volumes of the steelmaking commodity this year. Australia’s biggest iron ore miner is on track to post a full year underlying profit of close to $US12 billion next ...

Suggestions that Western Australia could survive if it seceded from the rest of the nation have been mocked as comic nonsense by a legal expert.  Premier Mark McGowans coronavirus border closures have reignited debate over whether the should become independent from the rest of the country. Proponents argue huge iron ore and gold deposits make it not only self-sufficient, but regularly subsidising other parts of Australia. But constitutional lawyer Professor Greg Craven argued the WA economy ...

Reasonable financial market returns masked a tumultuous year as investors continue to search for patterns in the market’s erratic behaviour. In a fitting end to 2020 more surprises rolled in over December, with share prices oscillating wildly, commodity prices remaining depressed and cheap valuations overtaking business fundamentals.

Mining tycoon Steinmetz on trial over Guinea bribes dw.com 1/15/2021 Martina Schwikowski Mining tycoon Beny Steinmetz has appeared in a Geneva court where he is facing trial for allegedly paying bribes to win lucrative mining rights in Guinea. © AFP via Getty Images Provided by Deutsche Welle Swiss prosecutors accuse Israeli-French mining magnate Beny Steinmetz and two others of having paid $10 million in bribes to obtain permits for lucrative iron-ore deposits in Guinea. T...

Mining tycoon Steinmetz on trial over Guinea bribes Mining tycoon Beny Steinmetz has appeared in a Geneva court where he is facing trial for allegedly paying bribes to win lucrative mining rights in Guinea. Swiss prosecutors accuse Israeli-French mining magnate Beny Steinmetz and two others of having paid $10 million in bribes to obtain permits for lucrative iron-ore deposits in Guinea. The three are also accused of forging documents to cover up the bribery. Appearing in court in Geneva earlier...