Guinea's 2018 EITI Report covers extractive activities in the country for that fiscal year. The document is in French.
Guinea seeks to attract significant foreign direct investments to develop its mining sector, which accounts for 97% of export revenue and has the potential to transform the economy of the country.
The EITI has the potential to contribute to improved data collection, knowledge of the sector and improved accounting of sub-national payments. These would support concrete reforms adopted by the government such as the adoption of the mining code, the review of contracts and the regular publication of EITI Reports.
Collection of production data in Guinea is a major challenge. The 2016 EITI Report notes difficulty in accessing an overview of production of minerals in the year under review. In the interim, the EITI process has to potential to support information gathering on production through the companies which have been requested to provide EITI reporting templates.
Guinea is considered rich in natural resources as 30% of government receipts are provided by the extractive sector. The main minerals produced in Guinea are bauxite, gold and diamonds. Information from EITI reporting companies show that the bauxite that is produced in Guinea is mainly destined for export. There also exists significant reserves of iron and nickel. Guinea is a not an oil and gas producer and the upstream sector is still in its infancy. ONAP, the National Petroleum office is committed to carrying out exploration and production projects in the 22 exploration blocks located mainly offshore. Some exploratory activities took place in 2016, based on contracts that were signed previously.
|Iron||1,427,004||thousand metric tons|
The 2016 EITI Report covers profits taxes, dividends, royalties, licenses and concessions fees as well as other significant benefits to government which includes VAT, customs duties and PAYE. State and State-owned company’s share of production were not applicable.
The Guinea 2016 EITI Report aims to report on all revenue streams and payments in the year under review. However only company payments greater than 700 million GNF (100,000 USD) would be reconciled with reported government receipts. The government has unilaterally declared its receipts from all other mining companies.
The multistakeholder group in Guinea aims to continue and strengthen EITI implementation along the value chain, including the awarding of contracts and licenses, monitoring operations, collecting taxes and distributing revenue.
Specifically, it aims to
- ensure respect of the legal and regulatory framework in the allocation of permits, licenses and contracts.
- initiate the collection and reconciliation of payments made by mining companies with receipts by the government, in accordance with the EITI requirements
- make this revenue information available to the wider public through the publication and dissemination of EITI reports
- ensure public debate on mining sector revenues to ensure that these are down according to the rules of democracy and transparency
- promote ownership of the EITI Standard by the public authorities, companies and civil society.
The legal basis for the EITI in Guinea is Decree 2012/014/PRG/SGG which handles the creation, responsibility and organization of the EITI in Guinea. The EITI is governed by three main organs, the Supervisory Council, the Steering Committee and the executive arm, the national EITI secretariat. The government published 12 May 2006 an Executive Decree that approves the EITI Action Plan, creates an EITI Working Group which represents the entire stakeholder’s constituency, and provides a legal basis to the implementation of EITI. The mandate of this working group was renewed by Presidential Decree 5 September 2008. In 2011, the EITI working group was given permanent status by Decree No. 28-2011-EM of 11 June. A draft EITI Law proposal (Transparency and access to information) proposes to repeal national regulations that limit the access to public information for the purpose of making the EITI Report.
The work plan presents all activities EITI Guinea is planning for the period in question.
Guinea's 2017 EITI Report covers extractive activities in the country for that fiscal year. The document is in French
Guinea's 2016 EITI Report covers extractive activities in the country for that fiscal year. The report was publsihed in August 2018 in French.