Israeli mining tycoon Beny Steinmetz is making a dramatic return to Guinea after the billionaire ended a bitter dispute with the West African country that brought his business empire to its knees. The settlement, brokered by former French president Nicolas Sarkozy, ends a seven-year dispute centred on one of the world’s richest mineral deposits that included a colourful list of characters from billionaire George Soros to former UK leader Tony Blair and mining heavyweights Rio Tinto Group and Vale SA. After months of secret negotiations, Steinmetz’s BSG Resources agreed with Guinean President Alpha Conde to withdraw allegations of corruption levelled against each other over years and to drop a two-year-old arbitration case over one of the world’s most-fabled mineral deposits — the Simandou iron ore project. Guinea also agreed to partner with mining grandee Mick Davis, who will develop the Zogota iron-ore mine once the disputes have been settled, marking a comeback for one of the indu...

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