Harry Cassin
Publisher and Editor
Andy Spalding
Senior Editor
Jessica Tillipman
Senior Editor
Bill Steinman
Senior Editor
Richard L. Cassin
Editor at Large
Elizabeth K. Spahn
Editor Emeritus
Cody Worthington
Contributing Editor
Julie DiMauro
Contributing Editor
Thomas Fox
Contributing Editor
Marc Alain Bohn
Contributing Editor
Bill Waite
Contributing Editor
Shruti J. Shah
Contributing Editor
Russell A. Stamets
Contributing Editor
Richard Bistrong
Contributing Editor
Eric Carlson
Contributing Editor
Rio Tinto plc paid the SEC $15 million Monday to settle FCPA offenses related to a consultant hired to retain mining rights in Guinea.… Continue Reading
Israeli billionaire Beny Steinmetz and two associates are facing criminal charges in Switzerland for allegedly paying bribes to win mining licences in Guinea between 2005 and 2010.
The Geneva public prosecutor said in a statement Monday the defendants are charged with the criminal offenses of “foreign bribery and forgery.”… Continue Reading
In one of the most high profile corruption stories around, reports in the Financial Times said BSGR filed for receivership, and on Tuesday entered into voluntary administration in Guernsey, where the company is registered.… Continue Reading
The U.S. Securities and Exchange Commission Tuesday charged Rio Tinto Plc and two former executives with fraud for allegedly inflating the value of coal assets in Mozambique.
Also Tuesday, the UK Financial Conduct Authority fined the mining giant £27 million ($35 million) for breaching disclosure and transparency rules.… Continue Reading
The UK Serious Fraud Office released a statement Monday confirming that it has opened a corruption investigation into mining giant Rio Tinto.
The SFO said the investigation targets “suspected corruption in the conduct of business in the Republic of Guinea by the Rio Tinto group, its employees and others associated with it,” according to an alert from FCPA Tracker.… Continue Reading
Authorities in Israel detained billionaire Beny Steinmetz for questioning about money laundering in connection with bribes allegedly paid to officials in Guinea for mining rights.
A spokesperson for Steinmetz’s company, BSG Resources, reportedly confirmed Monday that Steinmetz had been detained for questioning, Reuters said.… Continue Reading
Mahmoud Thiam via YouTubeThe former Minister of Mines and Geology of the West African country of Guinea was arrested and charged Tuesday with laundering $8.5 million in bribes he allegedly took from a Chinese conglomerate in exchange for mining rights.… Continue Reading
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.… Continue Reading
Rio Tinto’s Alan DaviesThe Rio Tinto imbroglio around its mining concession in Guinea continues to become stranger and stranger.
One might think that a $10.5 million payment for a third-party consultant to assist in obtaining a lost mining concession in the notoriously corrupt West Africa country of Guinea, approved at the highest level of the company is unusual enough.… Continue Reading
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.… Continue Reading
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.… Continue Reading
Australia is the world’s sixth largest country by land mass, only slightly smaller than America’s lower 48 states. With just 22 million people and abundant resources, the country exports coal, iron ore, gold, uranium, alumina, meat, wool and wheat, as well as wine, olives, fruit and vegetables.… Continue Reading
