$20bn Guinea iron mining project falls apart [The Morning Call]

Guinea, Conakry where mining giant, Rio Tinto went into an agreement with the government to explore the Simandou iron deposits in the country is facing all sort of setbacks. From workers protesting unjustified dismissal to news that the World Bank’s International Finance Corporation, a partner in the 20 billion dollar deal has announced it is pulling out … as IFC is selling its 4.6 percent stake, Rio Tinto has a 46.6 percent stake in the project; its Chinese partner, Chinalco has 41.3 percent while the Guinean government has only 7.5 percent