The bauxite producer Axis International has hired a 29 billion USD arbitration procedure against Guinea. The group mining accuses the government of illegally revoking his mining license, in a context of tightening mining policies in several countries resource-rich Africans.

An Emirati bauxite giant, Axis International, applied to the World Bank tribunal for investor-state disputes (ICSID) to claim $29 billion from Guinea after the revocation of a mining license. This case opposes the company, which owns 85% of a local joint venture, to the Guinean government accused of acting illegally.

Indeed, Guinea, the world's largest exporter of bauxite, with a third of the planet's reserves, has revoked the permit for impose more local transformation and national control. For its part, Axis considers this decision to be contrary to the contracts signed and alleges a violation. of its investment rights.

The case takes place at World Bank Investor—State Disputes Tribunal