In April 2011, an agreement to pay 700 million USD in the form of a “fine”, imposed by the brand new government of former President Alpha Condé on the company Rio Tinto/Simfer enabled the Anglo-Australian giant to remain on the Simandou Sud (block 3 and 4), following several years of delay.
This payment has been the subject of much speculation in relation to its use, but a document of which WESTAF MINING has obtained a copy indicates the main lines allowing us to understand how these exceptional resources were spent.
According to WESTAF MINING sources, the use of the amount has been closely monitored by international institutions like the International Monetary Fund and the World Bank. It is therefore easy to check the details with the same institutions…
Westaf Mining
