UK’s SFO investigates Guinea mining rights graft allegations

An investigation by the UK’s Serious Fraud Office (SFO) is taking place alongside the probe by the USA's FBI into bribery and corruption allegations regarding the acquisition of mining rights in Guinea.

The UK authorities are looking into how Israeli diamond tycoon Beny Steinmetz’s minerals company, BSG Resources (BSGR), acquired the rights to mine Simandou, one of the world’s largest untapped iron ore reserves, a source close to the matter told Metal Bulletin sister title Steel First.

The FBI launched its probe in January 2013. The UK’s SFO is investigating in the...


Michelle Madsen

April 17, 2013

13:25 GMT