November 8th 2011 - 3:52PM ... Bady Balde
Candidate country
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http://www.itie-guinee.org/
Overview of the Extractive Industries Guinea has abundant natural resources, including 50% of the world's known bauxite reserves, along with diamonds, gold, and other metals. Until 1990 mining accounted for more than 20% of GDP, supplied over 90% of exports and provided 70% of fiscal revenues. Financial problems, however, hindered the bauxite/alumina sector since the late 1980s. In 2002, mining activities accounted for an estimated 17% of GDP, while mineral exports represented nearly 90% of total export earnings and 20% of domestic government income. Status of EITI Implementation On 9 June 2011, the EITI International Board extended Guinea's Validation deadline by 6 months (until 31 August 2012), to allow Guinea to bring its EITI reporting in line with the 2011 edition of the EITI Rules. Validation will be conducted in accordance with the 2011 edition of the EITI Rules.Guinea was accepted as an EITI Candidate country on 27 September 2007. The country voluntarily suspended its EITI Candidate status, with board approval, starting from 19 December 2009, following a difficult political situation in the country. The Prime Minister of the previous government wrote on 11 November 2010 and requested the EITI Board to lift the suspension. The Minister of Mines of the democratically elected government confirmed this request on 7 February 2011. Guinea’s suspension was lifted and its candidate status reinstated by the Board on 1 March 2011.Governance of EITI implementation in Guinea The Steering Committee is a multi-stakeholder group in charge of implementation and follow up of the EITI in Guinea. A simplification of the EITI structures has been undertaken, eliminating the Executive Committee and reorganizing the subcommittees. The Secretary General of the Ministry of Mines and Energy, Guillaume Curtis, chairs the EITI Steering Committee. Mr. Mamadou Diaby is the Executive Secretary of EITI Guinea. Guinea EITI National Coordinator Mr. Mamadou DiabySecretaire ExecutifITIE GuinéeEmail: diabyitie [at] yahoo [dot] frTel. +22460230057 Companies operating* Oil & gas companies: Mining companies: Alcoa*, AngloGold Ashanti*, BHP Biliton*, Vale*, Rio Tinto*, RUSAL, Societe Semafo, Crew Gold, Mitsubishi, Bellzone, Gold Fields*, Chalco.* EITI Supporting Company * Note: Company list based on EITI research and is not conclusive Further information about the status of EITI implementation in Guinea can be provided by Regional Director Tim Bittiger at the EITI International Secretariat.
