{"id":110640,"date":"2025-12-30T00:00:00","date_gmt":"2025-12-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?p=110640"},"modified":"2026-01-04T21:07:45","modified_gmt":"2026-01-04T21:07:45","slug":"axis-international-files-arbitration-claim-against-guinea-over-revoked-mining-permit","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/12\/30\/axis-international-files-arbitration-claim-against-guinea-over-revoked-mining-permit\/","title":{"rendered":"Axis International files arbitration claim against Guinea over revoked mining permit"},"content":{"rendered":"

Good morning, ladies and gentlemen.<\/strong> It\u2019s the penultimate day of 2025, and the Out of Office replies are growing in volume as the entire world (or so it seems) takes off for some end-of-year R&R. <\/p>\n

The news cycle is sputtering towards the 2025 finish line with a handful of stories to keep <\/strong>us all busy this morning.<\/strong> UAE corporates are heading looking at some USD 136.2 bn-worth of debt that is set to mature by the end of the decade, with local banks bearing the brunt of that debt pile. Meanwhile, the Sharjah government has set its budget for the upcoming year and the Bank of Palestine is setting up shop in Abu Dhabi. <\/p>\n

PSA \u2014 EnterpriseAM is off this coming Thursday and Friday for New Year\u2019s.<\/strong> We\u2019ll be back in your inboxes at our customary time on Monday, 5 January. <\/p>\n

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A who\u2019s who of the \u201ccapital of capital\u201d:<\/strong> The Financial Times is out with a piece detailing the history of Abu Dhabi\u2019s growth story, from the beginning of Sheikh Zayed bin Sultan Al Nahyan\u2019s rule in the 1960s through to the present day \u2014 and how it became the \u201ccapital of capital.\u201d The story lays out the key figures and institutions that contributed to and now manage the emirate\u2019s wealth story. Go read: \u2018Capital of capital\u2019: how Abu Dhabi rose as a sovereign wealth power.<\/a> <\/p>\n

WATCH THIS SPACE- <\/p>\n

<\/a> DISPUTES <\/strong>\u2014<\/strong> UAE miner fires back in Guinea: <\/strong>Axis International launched a USD 28.9 bn arbitration claim against Guinea after the government revoked its bauxite mining permit, Financial Times<\/a> reports. The case has been filed at the World Bank\u2019s International Center for Settlement of Investment Disputes, with Axis calling the move an \u201cillegal revocation\u201d after what it said were ignored settlement attempts.<\/p>\n

What triggered it: <\/strong>Guinea\u2019s military government canceled more than 50 mining licenses in May, citing breaches of the mining code as it pushes to extract more value from natural resources under President Mamadi Doumbouya.<\/p>\n

Axis fires back with numbers: <\/strong>The UAE-based miner says its Boffa mine, operated since 2020, was Guinea\u2019s second-largest exporter in 2024, shipping 18 mn tons, with a further 800 mn tons in untapped reserves. Axis says the permit was pulled \u201cwithout notice [...] or discussion,\u201d and alleges authorities seized equipment and froze bank accounts.<\/p>\n

Why this matters: <\/strong>The claim adds even more pressure on UAE-linked miners in Guinea. As we previously reported, Emirates Global Aluminium has also been in talks<\/a> with Guinea\u2019s state miner to secure supply after losing its own bauxite license earlier this year<\/a> \u2014 highlighting the regulatory risk facing operators in the world\u2019s largest bauxite exporter.<\/p>\n

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<\/a> Fifa\u2019s best are coming to Dubai<\/strong>: <\/strong>Dubai will host the Fifa Best Awards ceremony next year, state news agency Wam<\/a> reports, citing an announcement made by Fifa President Gianni Infantino at the World Sports Summit<\/a> in Dubai. The football federation is also eyeing establishing a Fifa academy in the UAE.<\/p>\n

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Up and running on NYE in Dubai?<\/p>\n

<\/a> Gratis<\/strong> New Year parking, transit timing updates: <\/strong>Dubai will offer public parking at no cost on Thursday, 1 January, except for multi-story car parks and Al Khail Gate (N-365), Dubai Media Office<\/a> reports.<\/p>\n

Metro lines will run continuously from 5am on Wednesday, 31 December until midnight<\/strong> on Thursday, 1 January<\/strong>, the Roads and Transport Authority said<\/a>. However, the Burj Khalifa and Dubai Mall metro stations are shutting early at 5pm on Wednesday, according to Time Out Dubai<\/a>. Tram services will run until 6am on Wednesday until 1am on Friday, 2 January.<\/p>\n

On the roads<\/strong>, several key roads will be shut in the afternoon and evening of Wednesday, 31 December, and bus routes including the E100 and E102 will also be suspended.<\/p>\n

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The big story abroad<\/p>\n

It\u2019s only fitting that AI remains squarely in focus in the global business press<\/strong> as 2025 roars to a close. <\/p>\n

#1- SoftBank Group is doubling down on the physical backbone of artificial intelligence,<\/strong> agreeing to acquire US-based digital infrastructure investor DigitalBridge Group in a USD 4 bn transaction<\/a> that expands the Japanese conglomerate\u2019s exposure to data centers, fiber networks, and other AI-critical assets.<\/p>\n

Why it matters: <\/strong>The acquisition comes as SoftBank founder Masayoshi Son accelerates his push to position the group as a central player in what he calls \u201cnext-generation AI infrastructure.\u201d<\/strong> Investors are racing to secure the computing power, connectivity, and energy capacity underpinning the AI boom. <\/p>\n

#2- Nvidia has quietly completed a <\/strong>USD 5 bn investment<\/a><\/strong> in Intel<\/strong>, throwing another financial lifeline to the once high-flying US chipmaker. <\/p>\n

MEANWHILE- It\u2019s another geopolitics-heavy morning <\/strong>with sabre rattling heard from our corner of the world to the Taiwan Strait. Here\u2019s what you need to know:<\/p>\n