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Doors open, doors close

In early June, Guinea’s President Alpha Condé set the tone for more tense negotiations with mining investors when he declared that Chinese-style mines-for-infrastructure deals are unacceptable. The government has also extracted a US$700 million payment from Australia’s Rio Tinto for the go-ahead on its plans to develop Blocks 3 and 4 of the giant Simandou iron ore mine with the Aluminium Corporation of China. Other Chinese investors, including those of the China International Fund, wish that they were that fortunate....

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