GENEVA (AP) - The president of Guinea says Brazilian mining giant Vale did nothing wrong and is free to reapply to acquire rights to one of the largest untapped iron ore deposits in the world.

GENEVA (AP) The president of Guinea says Brazilian mining giant Vale did nothing wrong and is free to reapply to acquire rights to one of the largest untapped iron ore deposits in the world.

Alpha Conde says Vale "was not part of the corruption" that remains under U.S. investigation and led the West African country to revoke the mining licenses for Vale and its joint venture partner, Israeli billionaire Beny Steinmetz's BSG Resources, to exploit the Simandou and Zogota deposits.

Conde told reporters Wednesday in Geneva he would welcome a new bid from Vale, but his government had no preference among bidders and would select one transparently.

Conde says Guinea revoked the licenses this month based on a government committee's evidence that BSG Resources obtained them corruptly, which the company strongly denies.