Steinmetz May Drop $10B Guinea Mining Suit Against Soros

Law360 (June 23, 2021, 8:13 PM EDT) -- A joint New York federal court letter from Israeli billionaire Beny Steinmetz and billionaire investor George Soros revealed Steinmetz might drop his $10 billion suit against Soros for allegedly sabotaging his Guinean iron mining contract.

Steinmetz secured and lost an iron mining agreement with Guinea and claims Soros sabotaged the contract — both sides have previously alleged during the course of this suit that their opponent was trying to avoid taking responsibility for the revoked arrangement.

The joint status letter from Wednesday said Soros and his associated parties recently learned Steinmetz requested a court in Guernsey for an order "releasing" him...

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