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Brazilian miner Vale files $2bn lawsuit over Guinea project

Brazilian miner Vale said on Wednesday it has filed a lawsuit in the United States to force BSG Resources (BSGR) to pay it about $1.25-billion, as mandated by an arbitrator in a dispute over a joint venture in Guinea, plus interest and expenses. Earlier this month, Vale said an arbitration court in London had ordered BSGR to pay $1.246-billion. The suit, filed in the US District Court for the Southern District of New York, seeks payment of more than $2-billion when interest and expenses are taken into account.

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