Guinea
Legislation
- Mining Code 2011 (as amended)
- Decree No. 2014-012 on Mining Titles
- Decree No. 2014-014 on ESIS
Regulatory Risk Rating
Regulatory Risk
Regulatory Corruption Risk
Regulatory Corruption Risk
Corruption Exposure Risk
Corruption Exposure Risk
| Regulatory Risk Rating Factors | Risk Level |
|---|---|
| First Come / First Serve | Subscribe |
| Application Critiera | Subscribe |
| Duration | Subscribe |
| Right to Renew | Subscribe |
| Competing Licences | Subscribe |
| Mineral Coverage | Subscribe |
| Right to Mine | Subscribe |
| Criteria for Mining Rights | Subscribe |
| Tenure | Subscribe |
| Surface Rights | Subscribe |
| Government Take | Subscribe |
| Transfer Rights | Subscribe |
| Change of Control | Subscribe |
| EIA Process | Subscribe |
| Power to Revoke | Subscribe |
| Age of Legislation | Subscribe |
| Other Factors | Subscribe |
The Guinea mining code is largely replete of acceptable standards of security of tenure and will necessarily compel a major mining company to suspend its investments pending a comprehensive agreement that overrides its provisions. Few pieces of mining legislation have been so poorly conceived. The legislation is likely to have been heavily influenced by local advisors and/or NGOs, with little to no meaningful consultations with industry. Those with an interest in the jurisdiction will have to approach with caution and take all measures available to them to protect their investment.
Contents
Legislation
- Mining Code 2011 (as amended)
- Decree No. 2014-012 on Mining Titles
- Decree No. 2014-014 on ESIS
Regulatory Risk Rating
Regulatory Risk
Regulatory Corruption Risk
Regulatory Corruption Risk
Corruption Exposure Risk
Corruption Exposure Risk
Overview
Though Guinea is considered to be one of the poorest countries in the world, it has considerable mineral wealth. The country’s natural resource prospects have traditionally been stifled, mainly due to political and social instability, alongside various other infrastructure and governance issues, yet its mining industry has grown considerably in recent years, resulting in overall economic growth. This is primarily a result of Chinese involvement in the country. Whilst investors and miners outside of China continue to be deterred by high levels of risk, these factors do not seem to be impacting Chinese interest and investment in the region, which has increased significantly over the last decade. In this regard, in 2017, China agreed to loan Guinea $20 billion (USD) in exchange for various bauxite concessions. Guinea is now the second largest producer of bauxite, with the largest bauxite reserves in the world – estimated at around 29 billion tonnes. It also hosts world-class iron ore resources that have been the subject of much competition among the world’s leading mining companies. Other minerals in the country include gold and diamonds.
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