Guinea: Vale partner says Guinea seeks to seize iron ore assets

The mining arm of Israeli billionaire Beny Steinmetz's business empire has accused the government of Guinea of seeking to 'illegally seize' its assets through a probe into how it won rights to mine part of a major iron ore deposit. Privately owned BSG Resources, which has been working in the West African country with Brazilian mining major Vale, confirmed it had received a letter from a government commission alleging improper behaviour and graft in its winning of rights to develop blocks in the Simandou region.