Guinean Special Prosecutor Charles Wright has provided updates on the ongoing investigation into the dispute between Guinea des Mines (GDM) and Rima Tip Top. The case involves the export of 1,254,000 tonnes of bauxite valued at over $47 million. Wright emphasized that the probe will examine the sale of social shares, the destination of export revenues, and the financial interests of the Guinean state. The investigation follows a complaint filed by Rima Tip Top against General Mathurin Bangoura.
Wright clarified that the case is a private dispute and not state-initiated, contrary to public perceptions. He stressed that his role is to seek judicial truth, regardless of the individuals involved. According to Wright, General Bangoura had agreed to sell 10% of his shares to investors for $10 million but they only paid $2.6 million. The prosecutor questioned why the parties continued their collaboration despite the alleged breaches of initial agreements.
A critical aspect of the investigation concerns the export of bauxite despite a judicial ban imposed by the Court of Appeal. Wright disclosed that 1,254,000 tonnes of bauxite were exported during this period, valued at over $47 million. He wants to identify those involved in these operations, determine the actual quantities exported, and track the revenue generated. The Guinean state is entitled to a 15% stake in the mining company, which has not been accounted for.
The probe also raises questions about the shareholding structure of GDM and the allocation of mining permits. Wright expressed concerns about the lack of transparency in the company's dealings and the potential misappropriation of funds. Investors claim they were not fully informed about the company's legal status and capital distribution. They offered to return the $2.6 million already paid to resolve the dispute.
Wright emphasized that returning the $2.6 million would not resolve all issues, as the focus should also be on the profits generated by the invested funds and bauxite export revenues. He warned that if Mory Diané, another individual implicated in the case, fails to appear, he may order the seizure of his assets. The prosecutor assured that the investigation would continue to gather evidence, regardless of the individuals involved.
The case has led to the detention of General Mathurin Bangoura, who was placed under a mandate of deposit by the authorities. Wright justified this measure as necessary to preserve evidence and prevent tampering with case files. The investigation aims to gather factual elements to ensure a fair trial. The Guinean state is keen to ascertain its 15% share of the mining company's profits.
The Guinean authorities' investigation into the bauxite export scandal is ongoing, with several key aspects still to be addressed. These include identifying those responsible for exporting the bauxite, determining the actual quantities exported, and tracking the revenue generated. The case has significant implications for the Guinean mining sector and the country's revenue.
Key points
- The Guinean state is entitled to a 15% stake in the mining company GDM, which has not been accounted for.
- The investigation concerns the export of 1,254,000 tonnes of bauxite valued at over $47 million despite a judicial ban.
- General Mathurin Bangoura was placed under a mandate of deposit as part of the ongoing investigation.
