US EditionEmirates Mining Company Challenges Guinea Licence Withdrawal
Axis International demands $28 billion from Guinea for canceling its bauxite mine license, disputing claims of non-operation and citing ignored settlement efforts.
- Axis International, a UAE-headquartered mining company, filed an ICSID claim seeking $28 billion after Guinea revoked its license to operate a major bauxite mine, according to the company.
- Guinea, run by a junta since a 2021 coup, has cancelled dozens of mining licences over recent months, while Mamady Doumbouya, general and junta leader, prioritises mining exploitation.
- Axis said it had sought an amicable settlement with the junta in Conakry, which ignored several attempts, and rejected the government's claim that the mine was non-operational.
- The filing coincides with a presidential vote held Sunday in which Mamady Doumbouya is the frontrunner, while Guinea's role as a key bauxite producer highlights critics' view that mining income favors companies over the local population.
- In November the government launched exploitation of the Simandou iron ore deposit, while experts cite lack of investment, corruption and legal flaws for weak local development under Mamady Doumbouya.
39 Articles
39 Articles
An Emirian company claims close to 29 billion dollars from the authorities in Guinea. Axis International was exploiting a large deposit of bauxite on the side of Boffa but following the revocation of its licence, the company seeks international arbitration. After a first proceeding before a New York court, Axis moves to the next stage by assigning the Guinean state to a World Bank court.
The Killeen Daily Herald
Emirates mining company challenges Guinea licence withdrawal
Mining company Axis International said Monday it was seeking World Bank arbitration against Guinea for withdrawing its right to operate a major bauxite mine in the west African country.
After losing its operating licence, the United Arab Emirates-based company launched an arbitration procedure against Conakry at the International Centre for the Settlement of Different Investment Issues (Circi), claiming some $28.9 billion from the Guinean State.
UAE miner files $29bn claim against Guinea
UAE-based Axis International has reportedly filed a $29 billion claim against Guinea for revoking its bauxite mining rights. The arbitration claim has been filed with the International Centre for the Settlement of Investment Disputes, part of the World Bank, Bloomberg reported. The lawsuit follows Guinea’s refusal to settle the dispute despite several attempts, according to Axis. The company’s concession was among more than 50 licences cancelled…
The mining licence of Guinea's second bauxite producer has been illegally revoked. A claim for damages of $28.9 billion based on the Guinea-United Arab Emirates Bilateral Investment Treaty and the Guinean Investment Code of 1995. The damages are based on a number of factors.... Article Axis International Ltd initiates arbitration proceedings in the amount of US$28.9 billion before the World Bank against the Republic of Guinea, following the ille…
The bauxite producer Axis International has initiated an arbitration procedure of USD 29 billion against Guinea. The mining group accuses the government of having illegally revoked its mining licence, in a context of toughening mining policies in several resource-rich African countries. Lemirati Axis states that it has seized the International Center for Mining...
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