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The BSGR saga continues

Tom Fox | April 16, 2018

Is the saga of BSG Resources and the country of Guinea finally nearing an end? If The Man From FCPA had told you this story of intrigue, allegations of corruption, burning of documents and forged signatures, you might well direct me to the fiction section of a local bookstore. 

The latest chapter of this real-life page-turner was the World Bank’s International Center for Settlement of Investment Disputes (ICSID) recent ruling against the company in the continuing legal dispute to strip its mining concession for the Simandou region in Guinea. BSGR obtained the mine via concession granted by President Lansana Conté before he died in 2008. The next government of the country alleged that BSGR won the contract by paying bribes to Conté’s fourth wife, Mamadie Touré, in the form of cash and shares to help ensure those rights were removed from the prior...

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