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"De Combret was a way to physically [break the nexus]"

Sam Walsh has explained the decisions behind the the controversial US$10.5 million payment to Francois de Combret, saying the French banker was acting as a broker between the company and the Guinea government during difficult talks over the massive Simandou iron ore project.

Mining Journal
Sam Walsh said hiring Francois de Combret was the only way to get through to the Guinean government

Sam Walsh said hiring Francois de Combret was the only way to get through to the Guinean government

Rio Tinto (LN:RIO) lost half of its Simandou iron ore holdings in Guinea in 2011, managing to hold on to the remaining blocks with a $700 million payment to the government.  The new government under...

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