GUINEA has chosen global law firm DLA Piper and three other advisers to help review and, if need be, renegotiate mining contracts signed by previous governments, the head of the review body told Reuters.
The review, pledged by President Alpha Conde after he came to power in 2010, will scrutinise contracts with companies such as BHP Billiton, Vale, Rio Tinto, Rusal and BSGR to ensure the mineral-rich but impoverished West African state is benefiting sufficiently from deals. Guinean officials have criticised a lack of openness when the contracts were signed, particularly those agreed during the two years of military rule before Conde’s 2010 election
“Our objective is to point out to our partners areas in their contracts where the country is at a flagrant disadvantage, and discuss openly with them,” Nava Toure said.
Guinea is the world’s top supplier of the aluminium ore bauxite and is also home to the Simandou iron ore deposit held by Rio Tinto and BSGR.
City A.M. Reporter