Perry Ogden

Blog : Grappling with greed... the new scramble for Africa

Must-read article in the current (July 8th & 15th) issue of The New Yorker. Patrick Radden Keefe on the untapped iron ore deposits in the Simandou region of the tiny West African republic of Guinea (one of the poorest countries on the planet), an Israeli billionaire (whose company B.S.G.R. is the current owner of said deposits) and several of Guinea's Presidents (along with full supporting cast) - all culminating in a US grand jury investigation. The chances of the people of Guinea ever benefitting from this extraordinary mineral wealth (income over next quarter century is potentially a hundred and forty billion dollars) are slim but the pending trial could have huge implications on mining. Africa on the road to recovery!?

Read the article here