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Guinea’s EITI Candidate status renewed

Guinea’s EITI Candidate status renewed

The international EITI Board decided to renew Guinea's ‘EITI Candidate’ status for 18 months and to request a second EITI Validation by 24 April 2014. The Board recommended that Guinea EITI improves its work plans for implementation, ensures that EITI Reports cover all companies making material payments to the state for exploring and exploiting mines, and that these reports are better disseminated to Guinean citizens to contribute to public debate.

In July 2012, Guinea published its EITI Reports covering the years 2007-2010 in July 2012, marking the country’s return to regular reporting of payments and revenues from selling the country’s minerals. EITI Guinea had faced challenges to implementing the EITI process during the socio-political crisis. The EITI Board granted a suspension of its Candidate status from December 2009 to March 2011.

Ranked fifth among the world’s leading producers of bauxite, Guinea generates 26 per cent of GDP and 95 per cent of export earnings from the mining sector. The EITI plays an important role in the government’s current reform of the mining sector. The new Mining Code of 2011 now requires companies operating in Guinea to disclose information under the country’s EITI process. 

Photo from strategy planning meeting in the multi-stakeholder group in May 2011.

For further information about EITI in Guinea, please see the country page on the EITI website or contact EITI Regional Director Tim Bittiger.