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.
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.