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Guinea Guinea

EITI Status

EITI Status: 
Compliant country

Compliant since

Compliant since: 
2 July 2014

Extractive Industries

Guinea’s mineral sector accounted for more than 25% of the country’s gross domestic product and about 95% of export earnings in 2011 (USGS 2011 - Guinea). Guinea was ranked 5th 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. 

Guinea holds two-thirds of the world’s largest reserves of bauxite and is the second largest producer of bauxite after Australia. Guinea's other major exports include aluminum and rich gold. The country’s undeveloped mineral resources include graphite, iron ore, limestone, manganese, nickel, and uranium (EITI 2012 Report). 

There is an extensive iron-ore deposit in Simandou, which is currently being developed by Rio Tinto. A consortium of three companies, Tullow Oil, Hyperdynamics and Dana Petroleum, is undertaking oil exploration.

EITI Reporting

The country produces EITI Reports that disclose revenues from the extraction of its natural resources. Companies disclose what they have paid in taxes and other payments and the government discloses what it has received. These two sets of figures are compared and reconciled.

EITI Implementation

The MSG has produced a revised 2014 workplan. A working group is currently in charge of development of a revised three year post-Validation workplan during the course of the year with new objectives for the EITI process. The MSG has also begun preparations for the 2013 EITI Report, which is set to be published by the deadline of 31 December 2015.

EITI Guinea undertoook an extensive dissemination campaign to share the findings of the 2011 and 2012 EITI Reports, including in national media outlets, universities and in local communitites.

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Innovations

  • Disclosing EITI data mandatory by Presidential decree (Décret présidentiel D/2012/014/PRG/SGG)
  • Guinea EITI internet site publishes documenation on the mining sector (new mining code, mining contacts)

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National Coordinator

Guinea
Executive Secretary
ITIE Guinea
+224 6023 0057

International Secretariat

Guinea
Country Manager
International EITI Secretariat
+47 21685383
Guinea
Country Officer
EITI International Secretariat
+47 21685381

Facts & Figures

Latest Eiti Report: 2013 Report
Deadline for next Eiti report: Thursday, 31 December 2015
Number of fiscal years published: 9

Guinea News

In 2013, 28% of Guinea’s total state...
Guinea was accepted as 'EITI Compliant...
Which areas are mining revenues coming...
The international EITI Board decided...
The EITI is pleased to welcome Avocet...
At its meeting in Paris on 1 March...