BSG Resources Limited said it sent a letter to Rio Tinto plc Monday alleging that Rio Tinto contributed to the loss of BSGR's mining rights in Simandou, Guinea by paying bribes and making false allegations.
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Global mining giant Rio Tinto said it suspended the chief executive of its energy and minerals division while it investigates more than $10.5 million paid to a consultant for the Simandou iron ore project in Guinea.
The issue of whether the identities of confidential sources for business intelligence reports should be protected from disclosure in civil litigation was the subject of a High Court decision in London yesterday arising from ongoing proceedings in New York.
A federal court in Florida last week granted a request by prosecutors to seize three properties and various restaurant equipment from Mamadie Touré.
A French citizen who used to work for mining giant BSG Resources was sentenced Friday to two years in prison for obstructing an investigation into bribery allegations.
Brazilian miner Vale said it is considering legal options after the government of Guinea announced Friday the official revocation of mining licenses for iron ore concessions held by a joint venture between Vale and BSG Resources.
A state-sponsored committee reviewing mining concessions in Guinea said Wednesday that its 18-month investigation found evidence of graft involving a company controlled by Israeli billionaire Beny Steinmetz.