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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.

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

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.