Tuesday, February 26, 2019

Settlement of the Dispute between the Republic of Guinea and BSG Resources

LONDON-Tuesday 26 February 2019 [ AETOS Wire ]

(BUSINESS WIRE) -- The Republic of Guinea and Nysco, the 100% shareholder of BSG Resources ("BSGR") (together "the parties"), jointly announce the settlement of their dispute over mining concessions and licenses in the Republic of Guinea (“Guinea”).

Following this agreement, BSGR relinquishes its claims on blocks 1 and 2 of SIMANDOU and both parties waive all outstanding procedures.

At the request of the Republic of Guinea, a new group of investors (presented by and including Mr. Beny Steinmetz) will exploit the ZOGOTA deposit, in order to export iron ore, according to an accelerated timetable.

The parties are delighted that this agreement opens a new chapter in their relationship that enables the development of a world-class mining project for the benefit of the people of Guinea.

Contacts
For BSGR:
Buchanan
Bobby Morse, +44 (0)20 7466 5000
Senior Partner
BSGR@buchanan.uk.com

https://www.aetoswire.com/news/settlement-of-the-dispute-between-the-republic-of-guinea-and-bsg-resources/en

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