{{A U.S. shipping firm is suing Alcoa for $300 million saying it suffered losses after the aluminium maker breached a contract with the Guinean government concerning bauxite shipments from the world’s top exporter, court documents showed.}}<\/p>\n
Nanko Shipping and its president Mori Diane filed a civil complaint in the U.S. district court of the District of Columbia last week saying it had been harmed by Alcoa’s refusal to honour the terms of the 1963 joint-venture mining deal with the Guinean government.<\/p>\n
That agreement established the Compagnie des Bauxites de Guinee (CBG), the largest bauxite mine in the West African country, and gave the government the right to choose a company to ship half of its production, according to a copy seen by Reuters.<\/p>\n
In its suit, Nanko alleged that Alcoa – which manages the day-to-day operations of the CBG – had refused the government’s request in 2011 to let the U.S. shipping firm take charge of the transportation of Guinea’s 50 percent of production.<\/p>\n
Nanko’s demand for damages was based on its estimates that the value of the government’s shipping rights was some $100 million a year since then.<\/p>\n
Alcoa spokeswoman Christa Bowers said the firm had not been served with any legal papers relating to a lawsuit by Nanko.<\/p>\n
“However, we can confirm that we do not have, and never have had, a contractual relationship with Nanko Shipping,” she said. Bowers declined to comment on whether Alcoa had refused a request from the Guinean government to allow Nanko to handle the shipment of its bauxite. <\/p>\n
If Nanko’s case were successful it would mark a step forward for African nations seeking to wrest greater control of their natural resources from international companies.<\/p>\n
wirestory<\/p>\n","protected":false},"excerpt":{"rendered":"
{{A U.S. shipping firm is suing Alcoa for $300 million saying it suffered losses after the aluminium maker breached a contract with the Guinean government concerning bauxite shipments from the world’s top exporter, court documents showed.}} Nanko Shipping and its president Mori Diane filed a civil complaint in the U.S. district court of the District […]<\/p>\n","protected":false},"author":3,"featured_media":2000053448,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[100],"byline":[170],"hashtag":[],"class_list":["post-15778","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-africa","byline-igihe"],"bylines":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"contributors":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"featured_image":{"id":2000053448,"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton15778.jpg","alt":"","caption":"","mime_type":"image\/jpeg","width":0,"height":0,"sizes":{"thumbnail":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton15778.jpg","width":1,"height":1},"medium":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton15778.jpg","width":1,"height":1},"medium_large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton15778.jpg","width":1,"height":1},"large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton15778.jpg","width":1,"height":1},"full":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton15778.jpg","width":0,"height":0}}},"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/15778","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=15778"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/15778\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media\/2000053448"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=15778"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=15778"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=15778"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=15778"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=15778"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}