{"id":3490,"date":"2025-12-31T12:22:58","date_gmt":"2025-12-31T12:22:58","guid":{"rendered":"https:\/\/www.africa-press.net\/en\/home\/axis-international-demands-28-9-billion-from-guinea"},"modified":"2025-12-31T13:50:50","modified_gmt":"2025-12-31T13:50:50","slug":"axis-international-demands-28-9-billion-from-guinea","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/en\/economy\/axis-international-demands-28-9-billion-from-guinea","title":{"rendered":"Axis International Demands $28.9\u202fBillion from Guinea"},"content":{"rendered":"
\n

What You Need to Know<\/h4>\n

Access International, based in the UAE, has filed an arbitration claim against the Guinean government for $28.9 billion following the cancellation of its bauxite mining license. This legal action reflects ongoing tensions in Guinea’s mining sector, where the government has tightened control over mining operations, leading to multiple disputes with other companies.<\/p>\n<\/div>\n

Africa. <\/strong> <\/span>Access International has filed an arbitration claim against the Guinean government at the International Centre for Settlement of Investment Disputes, seeking compensation of $28.9 billion. This follows the cancellation of a bauxite mining license that the company managed through its local subsidiary, Access Minerals Resources S.A.<\/p>\n

Guinea, which holds the largest bauxite reserves in the world, took steps last year to tighten state control over the mining sector. These measures included the cancellation of dozens of licenses and the reallocation of some, as part of a policy aimed at increasing revenues and enhancing local processing of raw materials.<\/p>\n

The government’s decision has sparked a series of legal disputes, with other companies such as Nomad Bauxite filing similar claims against the state in November and Nimba Investment in December. Access International has asserted that Guinea bears full responsibility for the damages resulting from these decisions, claiming that the government “knew they were illegal,” according to a statement from the company’s attorney, Jonjan Sharma.<\/p>\n

The company also warned that Guinea’s refusal to pay compensation or participate in arbitration proceedings could jeopardize its access to international donor support and restrict its access to global financial markets. The Guinean government has yet to issue any official comment on the case.<\/p>\n

Guinea is home to the world’s largest bauxite reserves, a critical mineral for aluminum production. In recent years, the Guinean government has implemented stricter regulations on the mining sector, aiming to increase state revenues and promote local processing of raw materials. These changes have resulted in the cancellation of numerous mining licenses and have sparked legal disputes with various international companies.<\/p>\n

Find more news and analyses on Africa<\/span> on the Africa Press<\/span> website<\/p>\n","protected":false},"excerpt":{"rendered":"

What You Need to Know Access International, based in the UAE, has filed an arbitration claim against the Guinean government for $28.9 billion following the cancellation of its bauxite mining license. This legal action reflects ongoing tensions in Guinea’s mining sector, where the government has tightened control over mining operations, leading to multiple disputes with […]<\/p>\n","protected":false},"author":84,"featured_media":3489,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[45],"tags":[120,884,365,885,345,294],"class_list":{"0":"post-3490","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-africa","9":"tag-bauxite","10":"tag-guinea","11":"tag-international-law","12":"tag-investment","13":"tag-mining"},"yoast_head":"\nAxis International Demands $28.9\u202fBillion from Guinea - Africa Press English<\/title>\n<meta name=\"description\" content=\"Access International seeks $28.9 billion from Guinea after the cancellation of a bauxite mining license. 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