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Africa
Monaco Resources takes on a new debt to pay back another

To reimburse subscribers to a bond it issued in 2016, Monaco Resources subsidiary Agri Resources decided to issue another. This overlapping loans technique has already been used by the group. [...]

Published on 23/03/2021 at 06:00 GMT Reading time 3 minutes

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Finance, Business

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Agri Resources
Euroports
Marine Contracting and Infrastructure
Metalcorp Group
Monaco Resources
Pascale Younes
R Logitech
Societe des Bauxites de Guinee
Valentin Axel Fischer

In Focus | Africa
Facing courts and shareholders, Monaco Resources Group living on borrowed time - and money

Saddled with more than a billion euros in debt, Monaco Resources Group has become entangled in its own financial schemes. In terms of its logistical, agricultural and mining operations in Africa, the holding company has experienced a string of failures.

Subscribers only Finance, Mining, Commodity traders 27.03.2023

The Monaco Resources Group holding company was co-founded by Axel Fischer.

Guinea
Monaco Resources tries to postpone final €70m repayment due to ECOWAS sanctions on Guinea

Conglomerate group subsidiary Metalcorp is notably blaming the West African sanctions on Conakry for its failure to make a repayment on a bonded debt. But in reality, its affiliate Societe des Bauxites de Guinee's financial and commercial problems have little to do with it.

Subscribers only Mining, Commodity traders 12.10.2022

Africa, Europe
Monaco Resources under scrutiny from European audit regulators

Britain's audit watchdog is investigating whether the accounts of MRG UK, a British subsidiary of the Monaco Resources group, which is very involved in Africa, have been properly certified. Other European regulators have also debated whether to investigate the conglomerate's bookkeeping.

Subscribers only Commodity traders, Business 17.01.2022

Benin
Monaco Resources set to become Patrice Talon's favourite operator

The holding company's subsidiaries are winning lots of state contracts under the guidance of Eric Renaud, a Belgian trader of Belarusian tractors, harrows and ploughs.

Subscribers only Business 16.06.2021

Guinea
EY arbitrates in Monaco Resources vs MCI dispute

René-Marie Kadouno, the country managing partner of the accounting and consulting firm EY in Guinea, received representatives from Société des bauxites de Guinée and Marine Contracting and Infrastructure.

Subscribers only Mining 14.06.2021

Mauritania
Monaco Resources teams up with Ould Noueigued to vie for Tortue logistics contracts

R-Logitech, the logistics arm of Monaco Resources, has created a joint venture with Mauritanian magnate Ould Noueigued hoping to boost its chances of winning contracts with oil services firm developing the vast gas field Grand Tortue.

Subscribers only Energy, Business 29.04.2021

Guinea
Ghantoot boss travels to Conakry amid Monaco Resources scuffle

The Emirati businessman Zayed al Bloushi was recently in Guinea to meet with the authorities to discuss both Ghantoot's projects in the country and its subsidiary MCI's battle with its bauxite partner, Monaco Resources.

Subscribers only Mining 16.04.2021

Guinea
Monaco Resources runs into conflict with its Garafiri bauxite partners

Monaco Resources is facing protests over its management of the Garafiri bauxite project. It has been threatened with legal action over payments arrears by the company building the infrastructure needed for the project, while its fellow shareholder is contesting an increase in the capital of their joint project company which he says has diluted his stake in the company.

Subscribers only Infrastructure, Mining 04.03.2021

Guinea
Chinese Bauxites-Kimbo pays for its delusions of grandeur over port construction

Bauxites-Kimbo built a vast, cutting-edge port to evacuate its and its neighbours' bauxite production. For the time being, however, the port is merely a money pit, preventing the company from exploring its mining project.

Subscribers only Infrastructure, Mining 02.03.2021

Guinea
Feasibility studies approved for Santou and Houda, making SMB's railway look all the more profitable

Guinean authorities approved the feasibility study to mine bauxite on the Santou II and Houda blocks early January. SMB is currently building a railway to use for export.

Subscribers only Infrastructure, Mining 24.02.2021

In Focus | Guinea
Conakry seeks to make Monaco Resources go-to firm for bauxite trade

The Guinean government, pushing pooling in the mining sector to the extreme, is seeking to impose Monaco Resources as the go-to firm for marketing bauxite produced by firms less experienced in trading. The move comes as mining companies are experimenting with sharing capacity or infrastructure, an often fraught process.

Subscribers only Mining 25.01.2021

Loading of bauxite from CBG's Sangaredi mine.

In Focus | Document | Africa
Monaco Resources struggles to hide its secrets

In less than 10 years, Monaco Resources has become a major player in African commodities. Until now, it has been quite secretive about its shareholders and the backgrounds of its executives, but is finding it increasingly hard to maintain this stance as it grows in size and is forced to jostle for position on highly competitive markets.

Subscribers only Finance, Business 21.01.2020

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Agri Resources
Euroports
Marine Contracting and Infrastructure
Metalcorp Group
Monaco Resources
Pascale Younes
R Logitech
Societe des Bauxites de Guinee
Valentin Axel Fischer

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Senegal
Guns and oil drive Russia's Dakar courtship

Botswana, South Africa
From Gaborone to Antwerp, is De Beers's empire on the rocks?

Africa
Monaco Resources takes on a new debt to pay back another

This article may be accessed by subscribers

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create a free account

Set up email notifications for these topics

In Focus | Africa
Facing courts and shareholders, Monaco Resources Group living on borrowed time - and money

Guinea
Monaco Resources tries to postpone final €70m repayment due to ECOWAS sanctions on Guinea

Africa, Europe
Monaco Resources under scrutiny from European audit regulators

Benin
Monaco Resources set to become Patrice Talon's favourite operator

Guinea
EY arbitrates in Monaco Resources vs MCI dispute

Mauritania
Monaco Resources teams up with Ould Noueigued to vie for Tortue logistics contracts

Guinea
Ghantoot boss travels to Conakry amid Monaco Resources scuffle

Guinea
Monaco Resources runs into conflict with its Garafiri bauxite partners

Guinea
Chinese Bauxites-Kimbo pays for its delusions of grandeur over port construction

Guinea
Feasibility studies approved for Santou and Houda, making SMB's railway look all the more profitable

In Focus | Guinea
Conakry seeks to make Monaco Resources go-to firm for bauxite trade

In Focus | Document | Africa
Monaco Resources struggles to hide its secrets

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About Africa Intelligence

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Africa Intelligence on social media

Indigo Publications' websites

About Africa Intelligence

Subscription

Indigo Publications' websites

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Africa Monaco Resources takes on a new debt to pay back another

This article may be accessed by subscribers

Do you want a free trial before subscribing?

Create your free account

create a free account

Set up email notifications for these topics

In Focus | Africa Facing courts and shareholders, Monaco Resources Group living on borrowed time - and money

Guinea Monaco Resources tries to postpone final €70m repayment due to ECOWAS sanctions on Guinea

Africa, Europe Monaco Resources under scrutiny from European audit regulators

Benin Monaco Resources set to become Patrice Talon's favourite operator

Guinea EY arbitrates in Monaco Resources vs MCI dispute

Mauritania Monaco Resources teams up with Ould Noueigued to vie for Tortue logistics contracts

Guinea Ghantoot boss travels to Conakry amid Monaco Resources scuffle

Guinea Monaco Resources runs into conflict with its Garafiri bauxite partners

Guinea Chinese Bauxites-Kimbo pays for its delusions of grandeur over port construction

Guinea Feasibility studies approved for Santou and Houda, making SMB's railway look all the more profitable

In Focus | Guinea Conakry seeks to make Monaco Resources go-to firm for bauxite trade

In Focus | Document | Africa Monaco Resources struggles to hide its secrets

Set up email notifications for these topics

About Africa Intelligence

Subscription

Africa Intelligence on social media

Indigo Publications' websites

Senegal
Guns and oil drive Russia's Dakar courtship

Botswana, South Africa
From Gaborone to Antwerp, is De Beers's empire on the rocks?

Africa
Monaco Resources takes on a new debt to pay back another

In Focus | Africa
Facing courts and shareholders, Monaco Resources Group living on borrowed time - and money

Guinea
Monaco Resources tries to postpone final €70m repayment due to ECOWAS sanctions on Guinea

Africa, Europe
Monaco Resources under scrutiny from European audit regulators

Benin
Monaco Resources set to become Patrice Talon's favourite operator

Guinea
EY arbitrates in Monaco Resources vs MCI dispute

Mauritania
Monaco Resources teams up with Ould Noueigued to vie for Tortue logistics contracts

Guinea
Ghantoot boss travels to Conakry amid Monaco Resources scuffle

Guinea
Monaco Resources runs into conflict with its Garafiri bauxite partners

Guinea
Chinese Bauxites-Kimbo pays for its delusions of grandeur over port construction

Guinea
Feasibility studies approved for Santou and Houda, making SMB's railway look all the more profitable

In Focus | Guinea
Conakry seeks to make Monaco Resources go-to firm for bauxite trade

In Focus | Document | Africa
Monaco Resources struggles to hide its secrets