A drilling operation
in Guinea
Conakry, Guinea — MININGREVIEW.COM — 08 March 2011 – The government of Guinea is planning a review of all its mining licences and may stipulate that it must become a minority shareholder in all future contracts, following advice from billionaire philanthropist George Soros.

Stating this in a report in its latest issue, The Financial Times (FT) said that all companies would have to submit to higher transparency standards, along with their country of origin.

The newspaper pointed out that this plan might impact a US$1.35 billion iron-ore arrangement between Aluminum Corporation of China and the Rio Tinto Group, as well as Vale SA’s $2.5 billion iron ore deal in the West African country.