Blood Diamond - Trailer (Please see this movie)
West Africa has become the scene of intense competition between international mining companies as the price of minerals has risen after the recession of 2009. At the centre of this development is a region that covers parts of Liberia, Sierra Leone and Guinea. It is recognised as the biggest of the world’s remaining undeveloped minerals deposits.
Guinean Mines Minister Mahmoud Thiam recently approved a joint venture between the Brazilian giant Vale and General Resources, run by Israel-based Beny Steinmetz. The northern part of the Simandou Mountains (the region of Guinea being explored by this joint venture) is disputed territory—Rio Tinto still disputes the Guinean government’s decision to remove half of its Simandou exploration rights. Towards the end of General Lansana Conte’s regime, after Rio Tinto’s rights had been revoked, Steinmetz took control of the northern Simandou block. Vale then paid the Beny Steinmetz Group (BSG) $2.5 billion to take part in the venture. Read more>>>
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