Guinea: Axis Minerals, Victim of Guinea’s Mining Purge, Demands $1 Billion in Damages

An Indian businessman is seeking $1 billion in damages from Guinea after losing his mining licence for a bauxite deposit in the Boffa region. Pankaj Oswal has requested arbitration before a New York court, denouncing Conakry’s treatment of foreign investors.

Oswal describes it as “a shock” when, on 14 May 2025, he discovered that Axis Minerals’ mining licence had been revoked. The Guinean subsidiary of the Oswal Global group had been operating the site since 2020, following years of exploration…