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

Thu, 01st Sep 2016 20:25

(Adds details, background)

MONROVIA, Sept 1 (Reuters) - Liberia's parliament speakersaid on Thursday that he is stepping down to face briberycharges in a case involving London AIM-listed Sable Mining's attempted acquisition of an iron ore concession in thenorth of the country.

"If my recusal is the ultimate sacrifice that will move ourcountry forward and end this current quagmire, I am herewithrecusing myself from presiding over the plenary of the House ofRepresentatives," Alex Tyler said in a statement.

Tyler, who is free on bail, denies all wrongdoing.

President Ellen Johnson Sirleaf ordered in May an inquiryinto Sable's attempt to acquire an iron ore concession innorthern Liberia after the watchdog group Global Witness madeaccusations of wrongdoing in a report.

A grand jury in Liberia then indicted Sable Mining, itsChief Executive Officer Andrew Groves and five Liberians,including Tyler, on charges of bribery and using their positionsto amend Liberia's public procurement and concessions law.

The indictment alleges Tyler requested and received $75,000from Sable via a lawyer, who is among those indicted, to helpamend the concessions law.

The defendants deny the charges. Groves said in June thatthe indictment was politically motivated.

The indictment did not specify how Sable Mining was allegedto have benefited from the change to the law.

In his statement, Tyler criticized the government forprosecuting those named in the Global Witness report withoutconducting its own investigation but said he was stepping downto try to end gridlock in parliament created by the charges. (Reporting By Alphonso Toweh; Writing by Aaron Ross; Editing byAlexandra Hudson and Richard Balmforth)

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18 Sep 2013 17:58

INTERVIEW-Sable Mining confident will export iron ore through Liberia

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18 Sep 2013 16:35

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18 Sep 2013 09:05

Sable Mining Assay Results Improve Expansion Potential At Nimba

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13 Sep 2013 20:57

Sable Mining sees Guinea Nimba iron ore production by 2015

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13 Sep 2013 08:43

Sable Mining Says Study Shows High-Quality Iron In West Africa

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10 Sep 2013 08:05

Sable Mining Full-Year Loss Doubles On USD71.2M Impairment Charge

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10 Apr 2013 11:47

Guinea says new code encourages miners to do more than dig

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9 Apr 2013 18:46

UPDATE 3-Guinea cuts mining taxes in overture to investors

* Better terms needed to woo investment, government says * Miners freeze spending due to uncertainty * Guinea is world's top supplier of bauxite By Saliou Samb CONAKRY, April 9 (Reuters) - Guinea has amended its mining code to reduce some taxes and improve the investment c

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5 Feb 2013 16:54

STOCKS NEWS EUROPE-Uk small caps close up 0.2 pct

The FTSE Small Cap index closes 0.2 percent higher, lagging larger gains on the FTSE 250, up 0.5 percent and the FTSE 100, which rises 0.6 percent. British waste management firm Shanks Group slips 4.2 percent after saying it expects growth to slow in its 2013/14 financial year, as poor cons

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5 Feb 2013 09:57

STOCKS NEWS EUROPE-UK small caps climb 0.1 percent

THe FTSE Small Cap index climbs 0.1 percent, underperforming the wider market, with the FTSE 250 up 0.2 percent, and the FTSE 100 0.4 percent firmer. Sable Mining is up 2.2 percent after announcing a maiden JORC compliant resource from the company's on-going exploration programme at the Nim

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