BSG Faces Growing Anti-Corruption Investigation
News: An anti-corruption investigation relating to Guernsey-registered mining company BSG Resources is said to have spread to six different countries as fraud officers widen their search, Mining.com reports. The investigation, which relates to the company ' s mining contract for the Simandou iron ore deposit in Guinea, is now said to involve Switzerland, France , Brazil, Guinea, the UK and the US. Work on the project is reported to have been suspended whil e the investigation is on going.
BMI View: West Africa's mining sector is set to grow rapidly as investment pours into the region's phenomenal mineral wealth. Much of this growth will be focused on iron ore and gold as the region has untapped and high-grade reserves of both metals. We expect the bulk of the growth in the mining sector to be towards the end of the forecast period as many of the projects are still in their early stages of development.