Mining constitutes 90 percent of Guinea’s total exports and 22 percent of its GDP, and the potential for growth is enormous.
Deposits of bauxite, iron ore, gold and diamonds with significant geological potential.
Under the leadership of the current President Mamadi Doumbouya, Guinea has continued to build and foster economic development and attract foreign investment. The government has implemented a series of reforms aimed at enhancing transparency, improving governance, and ensuring that the wealth generated from Guinea's abundant natural resources benefits all citizens. Through strategic partnerships and a dedicated approach to inclusive development, President Doumbouya and his government are paving the way for a brighter future for the people of Guinea.
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.