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Monday, Sep 24
2012, 5:46 PM
Israeli mining company BSG Resources, which has a joint iron-ore mining venture in Guinea with...
Israeli mining company BSG Resources, which has a joint iron-ore mining venture in Guinea with Brazil's Vale SA (VALE), intends to sue Brazilian banker Andre Esteves of BTG Pactual and former VALE CEO Roger Agnelli in an effort to halt negotiations underway for the two to become advisers to the government of Guinea over the future of the massive Simandou iron-ore deposit. BSG fears that a possible tie-up between the parties may have undue influence over all operations at Simandou, which is said to be the world's largest unexplored iron-ore reserve.