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Sable Mining Africa probes bribery and corruption reports

Thu, 26th May 2016 11:22

(ShareCast News) - Sable Mining Africa, the company founded by ex-England spin bowler Phillipe-Henri Edmonds, has confirmed it is investigating allegations of bribery and corruption made against the company in Liberia.The AIM-listed, sub-Sahara-focused outfit, run by Edmonds and longtime business partner Andrew Groves, said it was taking "appropriate legal advice" on the matters after recent media comment and speculation regarding the issue.According to a report released by anti-corruption campaign group Global Witness, the company and its lawyers paid $250,000 in "bribes" to African officials in 2010 as well as casting aspersions about the purchases of assets owned by secretive offshore vehicles.Edmonds and Groves have already said they "strenuously deny any wrongdoing" and Jim Cochrane, who succeeded the ex cricketer as chairman in 2014, said earlier this month that no evidence had been found."Sable is committed to ensuring that its business is conducted in a responsible and ethical manner and that any breaches in internal anti-bribery policies and procedures will result in disciplinary action," he said. "Although many of the issues raised by Global Witness were subject to internal review a number of years ago, they have prompted a further review of all of these matters. We have found no evidence to support or justify this attack on the company or its directors, past and present."Edmonds and Groves' ventures have been embroiled in different sorts of controversy before. AIM-listed Camec, backed by funds from hedge fund Och-Ziff Capital Management, made a $100m cash payment to Robert Mugabe's Zimbabwe administration, which the company argued was a loan "to comply with its contractual obligations" to secure platinum claims in the country, though the funds proved vital for the notorious and at the time cash-starved leader to fight back from early defeats and remain in power.The year before, White Nile, yet another of the pair's outfits, discovered its much trumpeted Block Ba oilfield in southern Sudan was in fact owned by oil major Total.Shares in Sable, having stumbled from 20p to 0.5p at the start of the month, fell to a new low below 0.3p on Thursday, before rebounding to 0.4p just after 1130 BST.

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UPDATE 1-Liberian parliament speaker steps down after Sable Mining indictment

(Adds details, background) MONROVIA, Sept 1 (Reuters) - Liberia's parliament speaker said on Thursday that he is stepping down to face bribery charges in a case involving London AIM-listed Sable Mining's attempted acquisition of an iron ore concession in the north of the country. "If

1 Sep 2016 17:35

Liberian parliament speaker steps down after Sable Mining indictment

MONROVIA, Sept 1 (Reuters) - Liberia's parliament speaker said on Thursday that he is stepping down to face bribery charges in a case involving London AIM-listed Sable Mining's attempted acquisition of an iron ore concession in the north of the country. "If my recusal is the ultimate sacri

13 Jun 2016 14:52

Sable Mining boss refutes corruption allegations

(ShareCast News) - Resources company Sable Mining made an announcement to the market on Monday, over recent press comment and speculation regarding allegations of bribery and corruption made against the company in Liberia. The AIM-traded firm said one allegation is that CEO Andrew Groves has been in

13 Jun 2016 12:32

Sable Mining Africa CEO Denies Liberia Allegations By Global Witness

10 Jun 2016 22:06

Sable Mining CEO says Liberia indictment 'politically motivated'

MONROVIA, June 10 (Reuters) - Sable Mining Chief Executive Officer Andrew Groves said on Friday that his indictment this week by a grand jury in Liberia in relation to a corruption investigation was politically motivated. President Ellen Johnson Sirleaf last month ordered an inquiry into Lo

9 Jun 2016 22:12

Liberia indicts Sable Mining chief executive over alleged bribery scandal

MONROVIA, June 9 (Reuters) - A grand jury in Liberia indicted on Thursday the chief executive officer of the London AIM-listed Sable Mining, Andrew Groves, in connection with an alleged bribery scandal involving several senior Liberian officials, the head of a special task force said. Presi

26 May 2016 10:27

Sable Mining Investigating Bribery Allegations In Liberia

20 May 2016 18:07

Guinea says to work with Global Witness over corruption allegations

* Global Witness alleges Sable Mining provided bribe money * Sable Mining denies wrongdoing * Guinea, Liberia launch probes into allegations By Saliou Samb CONAKRY, May 20 (Reuters) - Guinea will work with Global Witness to gather evidence for a judicial investigation into

15 May 2016 21:46

Guinea to take legal action against Global Witness -president

By Saliou Samb CONAKRY, May 15 (Reuters) - Guinea will take legal action against watchdog group Global Witness over a report that said Sable Mining Africa Ltd financed President Alpha Conde's election campaign in 2010, the president said on Sunday. The legal action would aim to force

14 May 2016 18:30

UPDATE 1-Guinea Justice Ministry to examine Sable Mining permits

(recasts with justice minister's comment, changes dateline to Conakry) CONAKRY, May 14 (Reuters) - Guinea's justice minister said on Saturday he was ordering an examination of how Sable Mining Africa Ltd won its mining permits, citing allegations of corruption in a report by watchdog group

14 May 2016 10:37

Guinea mines minister asks for investigation into Sable Mining

ABIDJAN, May 14 (Reuters) - Guinea's mines minister said on Saturday that he had asked the justice ministry to investigate how AIM-listed Sable Mining Africa Ltd won its mining permits. "I have asked the Justice Ministry to take all necessary measures to examine all of the permits held in t

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