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Steinmetz Loses Latest Battle over $2bn Court Award April 06, 21 by John Jeffay (IDEX Online) - The authorities in Brazil have shelved claims by diamond billionaire Beny Steinmetz that global mining giant Vale misled its shareholders. Both parties embarked on a joint venture to extract iron ore for steelmaking from the vast Simandou resource, in southern Guinea. But the government concluded that mining rights had been obtained through bribery, a nd in 2019 a British court awarded Vale a sum that with costs and interest now amounts to $2bn. In February a Swiss court convicted Steinmetz ( pictured) of paying $8.5m in bribes to an ex-wife of Guinea s former president, to secure those rights for his BSGR Group (Beny Steinmetz Group Resources). He is appealing. ....