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OBAMA ADMINISTRATIONíS GUINEA MINING DEAL HURTS AMERICAN BUSINESSES
human events ^ | july 2, 2012 | Robert Maginnis

Posted on 07/02/2012 12:02:52 PM PDT by lowbridge

A secret business deal between the government of Guinea and a multinational firm with a U.S. partner aided by the Obama administration’s wrongheaded foreign policy could cost American businesses billions. Congress ought to investigate to protect American investors, expose any political shenanigans and prosecute the guilty.

The London Sunday Times first cracked the story June 3 of the secret $25 million loan between an offshore company, Palladino Capital 2, and the cash-strapped West African country. The funds, according to the loan agreement, were to finance the start-up of Guinea’s state mining company, Heritage, but the cash allegedly disappeared and the terms of the loan include a default clause which gives the lender a juicy 30 percent stake of Guinea’s mushrooming mining assets.

A thirty percent share is especially significant given Guinea’s new mining code engineered by advisors billionaire trader George Soros and Palladino’s South African owner Walter Hennig. The 2011 code gives 15 percent of all mining assets to Heritage, including another 20 percent at market rates. That means foreign mining operators forfeit billions of dollars in assets and profits atop an 8 percent customs tax.

(Excerpt) Read more at humanevents.com ...


TOPICS: Business/Economy; Foreign Affairs; Government; News/Current Events; Politics/Elections
KEYWORDS: coal; guinea; obama; soros

1 posted on 07/02/2012 12:03:03 PM PDT by lowbridge
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To: lowbridge
The London Sunday Times first cracked the story

I'm waiting for the day when an an honest journalist reveals how much censorship is occurring in the Obama media.

2 posted on 07/02/2012 12:09:37 PM PDT by aimhigh
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To: STARWISE; thouworm; LucyT; MestaMachine; Brown Deer; bcsco; Nachum; FARS; onyx

Do we have any more information on this?


3 posted on 07/02/2012 12:26:00 PM PDT by hoosiermama (Obama: "Born in Kenya" Lying then or now!)
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To: lowbridge

Bump


4 posted on 07/02/2012 12:39:54 PM PDT by lowbridge (Joe Biden: "Look, the Taliban per se is not our enemy.")
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To: lowbridge

“Congress must ask these tough questions to determine the truth. Clearly, the secret deal could hurt American mining businesses, exposes the administration’s wrongheaded foreign policy, and may violate our foreign corruption laws.”

SHEESH! Obama, Clinton same-o, same-o.


5 posted on 07/02/2012 12:52:33 PM PDT by rockinqsranch (Dems, Libs, Socialists, call 'em what you will, they ALL have fairies livin' in their trees.)
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To: lowbridge

It doesn’t matter what Obama does or doesn’t do. It’s primary motive is to destroy American business and defense in any way possible.


6 posted on 07/02/2012 12:58:37 PM PDT by formosa (Formosa)
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To: lowbridge

Obama takes care of Africa first - it’s the land of his birth.


7 posted on 07/02/2012 1:08:14 PM PDT by Iron Munro (John Adams: 'Two ways to enslave a country. One is by the sword, the other is by debt')
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To: Iron Munro

And if it isn’t, he wishes it was.


8 posted on 07/02/2012 1:16:40 PM PDT by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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