"The Sunday Times" reports Beny Steinmetz's mining company BSG Resources Ltd. plans to file a multibillion-dollar lawsuit with the English High Court against George Soros and Rio Tinto (NYSE; LSE; ASX: RIO), after BSG Resources lost its rights to a multibillion-dollar iron mine in Guinea. BSG Resources will claim in the lawsuit that is being drawn up that Soros and Rio Tinto conspired to deprive the company of its rights to the mine.
"The Sunday Times" says, "The lawsuit is expected to allege that Rio Tinto formed a conspiracy with Soros and Global Witness, a campaign group funded by him, to force Steinmetz out of the Simandou project in Guinea."
In early May, in the statement of claim filed with the US District Court for the Southern District of New York, Rio Tinto accuses BSG Resources and Brazil's Vale SA (Bovespa: VALE5; NYSE: VALE) of conspiracy to steal its rights in Guinea's Simandou iron-ore concession.
In April, Guinea President Alpha Conde revoked BSG Resources' rights to the Simandou mine, after a Guinean government inquiry concluded that Steinmetz and Vale acquired them through corruption under previous dictatorships.
Published by Globes [online], Israel business news - www.globes-online.com - on June 1, 2014
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