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Guinea to Review All Mining Licenses After Advice From Soros

Monday, Mar 07, 2011
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Guinea is planning a review of all its mining licenses and may require the government being a minority shareholder in contracts, following advice from George Soros, the billionaire philanthropist, the FT said.


All companies will have to submit to higher transparency standards along with their country of origin, the FT reported. The plan may impact a $1.35 billion iron-ore arrangement between Aluminum Corp. of China and Rio Tinto Group, and Vale SA (VALE3)’s $2.5 billion iron ore deal in the West African nation, the newspaper said.

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