Steinmetz co slams Israel for giving Ishai rights to Cyprus
„It is embarrassing to see how the Israeli government is allowing Delek Group Ltd. (TASE: DLEKG) and Noble Energy to humiliate it, after having nurtured them and allowed them to take control of both the local and regional natural gas markets,“ Ohad Schwartz, a director at Nammax Oil & Gas, controlled by Beny Steinmetz, wrote to Ministry of National Infrastructure.
China-backed JV wins rights to prized Simandou iron ore project
A Chinese-backed joint venture has secured the rights to develop Simandou, one of the world’s biggest untapped deposits of steelmaking ingredient iron ore. The award to the SMB-Winning consortium, whose investors include Chinese aluminium producer Shandong Weiqiao and the Yantaï Port Group, brings the development of a mine a step closer.
Romanian court acquits Beny Steinmetz
Beny Steinmetz’s lawyer Adv. Yuval Sasson has told „Globes“ that the Brasov District Court in Romania has acquitted Steinmetz, communications consultant Yuval Zilberstein, and two other Israelis on charges of land fraud in the country. The case developed following the nationalization of land in Romania under the Communist regime there. After the downfall of the regime, people who were private landowners…
Israel blocking Aphrodite gas field development
Israel is opposed to the development of Cyprus’s Aphrodite offshore natural gas field until the dispute over the border with Israel’s Yishai gas field is settled, Ministry of Energy director general Udi Adiri has made clear in a letter sent to the reservoir’s rights owners Delek Drilling LP (TASE: DEDR.L), Noble Energy Inc. (NYSE: NBL) and Shell. Adiri wrote to Delek Drilling CEO Yossi Abu, Noble Energy SVP Keith Elliot and Shell…
Steinmetz and Guinea settlement opens new doors
February’s announcement of a settlement between the Republic of Guinea and Nysco, brought to an end a saga that began more than a decade ago. Nysco is the 100% shareholder of BSG Resources (BSGR), the company formerly controlled by Israeli diamond magnate Beny Steinmetz, which has spent the last four-and-half years fighting the government’s decision to strip the company of its mining rights, alleging bribery.
Beny Steinmetz in talks to settle Israel tax dispute
Israeli businessman Beny Steinmetz has been negotiating with the Israel Tax Authority and the State Attorney’s office for taxation and economics for several months in an effort to have the state’s civil and criminal cases against him closed, sources inform „Globes.“ In a civil case, the state is demanding NIS 4 billion from Steinmetz. In a criminal case, Steinmetz is suspected of bribing a foreign public servant in Guinea and…
Mining Billionaire Ends Bitter Guinea Dispute After Months of Secret Negotiations
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-old dispute centered around one of the world’s richest mineral deposits that included a colorful list of characters from billionaire George Soros to former U.K. leader Tony Blair and mining heavyweights Rio Tinto Group and Vale SA.
Romanian court acquits Israeli tycoon charged with land fraud
The Brasov District Court in Romania has acquitted Beny Steinmetz, communications consultant Yuval Zilberstein, and two other Israelis on charges of land fraud in the country, Israel Hayom has learned over the weekend. Steinmetz made his fortune in diamond mining, engineering and real estate. According to financial daily Globes, the case developed following a move by the Romanian government to allow private landowners whose land was nationalized by the country’s Communist regime in the 1940s, to demand their rights to such lands be restored.