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Guinea: Guinea: Mineral Industry Overview



Guinea: Mineral Industry Overview

In 2010, Guinea was ranked fifth among the world’s leading producers of bauxite, 12th among the world’s leading producers of rough diamond, by volume, and 13th among the world’s leading producers of rough diamond, by value (Bray, 2011; Kimberley Process Certification Scheme, 2011). Other mineral commodities produced in the country included cement, gold, and salt. The country’s undeveloped mineral resources included graphite, iron ore, limestone, manganese, nickel, and uranium.

Government Policies and Programs

The Ministère des Mines et de la Géologie (formerly Ministère des Mines, de la Géologie et de l’Environnement; the name was changed in 2010) was the Government agency responsible for the administration of the mining sector. Guinea’s Mining Code, which was based on French civil law, was last revised and amended in 1995 and 1998, respectively. The Government is entitled to a “founder’s share” in all gold, diamond, and other precious stone mining activities. The founder’s share equals 15% of the capital of the operating company, and no financial contribution may be required from the Government for this share. For bauxite, iron ore, and solid hydrocarbons, no such free share is authorized. The Government is entitled to a stake in the exploitation of these mineral commodities, but the terms are negotiated with the investor. Both the previous military junta and the transition Government have declared that all the contracts must allow for “a sufficient %age of capital” to be returned to the Government. The Government pledged to review all mining contracts signed from 2006 to the present. The Mining Code was under revision in 2010 (U.S. Department of State, 2010; 2011).

The Petroleum Code of September 23, 1986 (Code Petrolier du 23 Septembre 1986), continued to be under revision in 2010 by a commission consisting of members from the Ministry of Commerce, the Ministry of Environment, the Office of the President, and other Government cabinets. The Petroleum Code provides the legal framework for the exploration and mining of all liquid and gaseous hydrocarbons. Under the Code, companies exploring for or mining hydrocarbons in Guinea may negotiate with the Government for exemptions from taxes and customs duties (U.S. Department of State, 2009, 2010).


In 2010, alumina production increased by 13% to 597,000 metric tons (t) from 530,000 t in 2009 and bauxite production increased by 12% to 17.4 million metric tons (Mt) from 15.6 Mt in 2009. Diamond production decreased by 46% to 374,000 carats from 697,000 carats in 2009. Cement production decreased by 20% to 237,000 t from a revised 298,000 t in 2009. Gold production, which excluded production from artisanal mining, decreased by 16% to 15,217 kilograms (kg) from 18,091 kg in 2009.

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