Guinea

MINING INDUSTRY

Mining accounts for over 70% of the country's exports.

Deposits of bauxite, iron ore, gold and diamonds with significant geological potential.

Country accounts for 25% of global bauxite resources (Source: USGS).

TRANSITIONING TO A STABLE DEMOCRACY

Guinea's first democratic presidential elections were held in November 2010 with the election of HE Prof Alpha Conde. This was followed by parliamentary elections in September 2013.
Democratic presidential elections were again held in October 2015, with the incumbent HE President Alpha Conde winning the vote with a significant majority in the first round. In his 2nd term, the President’s stated focussed has been the creation of economic wealth for the country as a whole and encourages foreign investment.

MINING CODE

In September 2011, the national transactional council (CNT) adopted a new mining code which replaced 1995 mining code. In April 2013, the CNT and the government approved several amendments to the code.

This marks an important step in Guinea's ongoing mining reform agenda. Government right to 15% non-dilutable free-carried interest and to acquire up to a further 20% interest for cash. These are maximum levels of Government participation – final terms in every case to be negotiated individually in a Mining Agreement between the Government and the mining company and will include royalties, tax rate, tax holidays etc.