Simandou Mining News

BSGR may have to pay $1.2bn for no show at Simandou-related hearing

The company, which could lose the arbitration as a result, will have to pay the amount to former partner Vale.

Chinalco wants to be sole owner of world’s largest iron ore deposit

Move comes barely seven months after Rio Tinto agreed to sell it its stake in Simandou for up to $1.3 billion.

Rio Tinto chairman Jan du Plessis steps down, set to lead BT

He joins a growing list of chairmen who are leaving some of the world's' top mining companies, including BHP Billiton and Anglo American.

Rio Tinto defers former CEO Walsh bonus over Guinea scandal

Sam Walsh's bonuses, potentially worth millions, had been delayed for at least two years as investigations continue into dubious payments related to Simandou iron ore project in Africa.

Rio Tinto, Chinalco put an end to copper joint venture

The amicable divorce ends a six-year-old exploration joint venture originally set to find copper deposits in China.

BSGR boss house arrest ends with no charges over Guinea bribery claims

The Israeli billionaire, under house arrest since Dec. 19, has been at the centre of an international investigation into alleged bribery to win mining rights in Guinea.

BSGR boss Beny Steinmetz arrested in Israel over Guinea bribery case

The billionaire and other Israeli businessmen are suspected of paying tens of millions of dollars to senior state officials to secure a licence for Simandou, local police said.

BSGR to file multi-billion lawsuit against Rio over Simandou

BSGR will sue Rio Tinto in the English High Court to recover losses allegedly caused by Rio's actions, which run to several billions of dollars.

Fresh shake-up at Rio Tinto in aftermath of bribery probe

Russian-Canadian Vera Kirikova will become human resources group executive while Simone Niven will assume the corporate relations group executive post.

Heads roll at Rio Tinto over Simandou probe — Davies, Valentine fired

Energy and Minerals chief executive Alan Davies said he would take the mining giant to court over his dismissal, adding there were “no grounds” for his termination.

Rio learnt about Simandou dubious payment over a year ago — report

Company is said to have found out about the emails referring to a questionable $10.5m payment to a consultant over the Guinea project more than a year ago, not 'just' in August, as it claimed.

Rio Tinto staff shaken to the core by bribery probe — CEO

Speculation is running and some of what is being said strikes at the heart of the culture and values of the company, chief executive officer Jean-Sébastien Jacques said in an internal memo.

Rio Tinto energy and minerals chief suspended over Simandou bribery claims

Alan Davies suspended after miner found payments made to consultant in 2011, when he was in charge of the iron ore project.

Rio's Simandou sale 'could crush the price of iron ore'

"It would of obvious strategic benefit for China to control a major iron ore deposit and add new supply to discipline the market."

Chinese buy world's largest mining project

Rio Tinto announces deal to exit Guinea and giant Simandou iron ore project.

Iron ore surges past $55 as Rio Tinto exits Simandou

The price increase comes as iron ore major Rio Tinto decided to put its Simandou project in Guinea on ice due to the iron ore glut that is keeping a lid on prices.

Rio Tinto forges ahead with Simandou, the world's largest mining project

The massive Simandou project, in Guinea, is considered the world's biggest untapped iron ore deposit.

Mining lawsuit of the century just got a lot uglier

Rio Tinto alleges Vale enlisted Ernst & Young "to cover up and sanitize its conspiracy with BSGR" to strip half of the Simandou iron ore deposit from Rio.

Decision in Rio Tinto’s case against Vale over Simandou imminent— report

New York court must decide by September whether or not it accepts Vale and BSGR request to dismiss the lawsuit that claims they conspired to steal Rio's rights over the asset.

Iron ore prices: the worst is yet to come

Despite the rosy outlook from Australia’s top iron ore producers, they are all facing staggering demand from their biggest customer — China.

BSGR ordered to hand over Simandou-related documents to UK anti-corruption body

The UK High Court ruling is the latest setback BSG Resources, which is fighting on multiple legal fronts over the alleged corruption case.

Australia treasurer vows to block Glencore-Rio Tinto merger

This wouldn’t be the first time Hockey hinders a major corporate deal in Australia.

April Simandou auction amid new low in iron ore price

Iron ore fell to a new 7-year low on Tuesday, but Guinea is pressing ahead with the auction of north Simandou, the richest undeveloped deposit in the world.

Iron ore's richest prize going on auction

Outcome will say a lot about the long-term prospects for the industry.

UK data watchdog hands defeat to Steinmetz over request to quell Simandou mining deal critics

Steinmetz and three BSGR directors argued that Global Witness had obtained personal information about them without authorization and wanted it to be forced to reveal what specific data it held.