Post #414

No Days Off 😐 World Bank’s arbitration body (ICSID) staff must be getting fed up with West Africa. After the recent settlement of the Mali–Barrick dispute, the institution has picked up a new gig: a $29 billion complaint by UAE-based Axis International against the government of Guinea. 📅 At the center of the dispute is what the complainant calls Guinea’s 2nd-largest (of course it is!)bauxite mine, where Axis operated from 2013 until May 2025, when its license was revoked (the company says illegally) for failure to meet obligations. 💵 This pretext isn't entirely accurate. When Guinean authorities decided to examine the company’s operations, it emerged that Axis had subleased the deposit to two other miners — a Chinese company and a firm allegedly linked to Guinea’s former minister of mines. 👥 Judging by what leaked to the media a few weeks ago, the government opted to simply remove Axis as an intermediary and transfer the asset to companies that are actually prepared to operate it. ⏩ The government also has its own interests in mind. By cutting out speculative subleasing costs, miners would pay more taxes and management of the deposit would become more transparent — if the authorities manage to buy their way out of conflict with the former friends. ➡️ Follow to stay informed - @devilsbelow