Guinea

EITI Status Yet to be assessed against the 2016 Standard
EITI Member Since 2007
Latest Data From 2013
Website EITI Guinea

Overview

Guinea seeks to attract significant foreign direct investments to develop its mining sector, which has the potential to transform the economy of the country. The Ebola outbreak, falling commodity prices and a legacy of corruption and poor governance provide a challenging context.

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.

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Tax and legal framework

The types of permits issued by the government of Guinea for the mining sector include exploration permits, semi-industrial and industrial mining exploration permits and mining concessions. There are also quarrying exploration and production licences, as well as artisanal production licenses.

The Mining Code distinguishes between areas (i) without geological information or for which geological information has not identified a deposit and (ii) areas which have been explored and which cover a deposit which has generated interest by several companies. Licenses for areas which fall into the first category are distributed on a first-come, first serve basis. Licenses which are known to have a commercial deposit are allocated based on a transparent and competitive basis.

There are currently two companies were conducting exploratory work in the oil and gas sector in 2013. These were Tullow Oil (Production Sharing Contract signed in 2006) and Simba Energy (PSC signed in 2008).

The mining register is not currently up-to-date but a copy is included in the 2013 EITI Report. The Centre for Mining Development and Promotion has been given the responsibility for updating the register and processing new request for exploration permits, amongst others.
 

License registry

The mining register is not currently up-to-date but a copy is included in the 2013 EITI Report. The Centre for Mining Development and Promotion has been given the responsibility for updating the register and processing new request for exploration permits, amongst others.

Production

Collection of production data in Guinea is a major challenge. The 2013 EITI Report notes difficulty in accessing an overview of production of minerals in 2013. 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.

Natural resources

Guinea is considered rich in natural resources as 28% 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 although some exploratory activities took place in 2013, based on contracts that were signed previously.

CommodityReservesUnitSignificance
Bauxite29million tons
Gold5-10thousand tons
Diamonds20million carats
Iron5billion tons
Nickel75million tons
Iron1,427,004thousand metric tons
Sources: 2013 EITI Report

Revenue collection

The 2013 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 2013 EITI Report aims to report on all revenue streams and payments in 2013. 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.

View the 2013 EITI Report

Initializing chart.

Please refer to the EITI Reports and summary data for more information on the scope and number of reporting companies.

Please refer to the EITI Reports and summary data for more information on the scope and number of reporting companies.

Visual is showing revenues by the top 5 companies. Please refer to the EITI Reports and summary data for more information on the scope and number of reporting companies.

EITI Implementation

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

  1. ensure respect of the legal and regulatory framework in the allocation of permits, licenses and contracts.
  2. initiate the collection and reconciliation of payments made by mining companies with receipts by the government, in accordance with the EITI requirements
  3. make this revenue information available to the wider public through the publication and dissemination of EITI reports
  4. ensure public debate on mining sector revenues to ensure that these are down according to the rules of democracy and transparency
  5. promote ownership of the EITI Standard by the public authorities, companies and civil society. 

EITI Governance

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.

Timeline

EITI-Guinea 2015 workplan

Validation

Guinea's Validation against the Standard will commence on 1 July 2018. The country is compliant under the 2011 Rules.

EITI Reports and other key documents

Guinea 2015 EITI Report

Published Date: 
February, 2017
Publisher: 
Guinea EITI

Guinea's 2015 EITI Report covers extractive activities in the country for that fiscal year. The report was publsihed in March 2017 in French. 

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Guinea 2014 EITI Report

Published Date: 
December, 2016
Publisher: 
Guinea EITI

Guinea's 2014 EITI Report covers extractive activities in the country for that fiscal year.

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2013 Guinea EITI Report

Published Date: 
December, 2015
Publisher: 
Guinea EITI

This EITI Report covers Guinea's extractive sector in 2013. It was published in December 2015. 

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2012 Guinea EITI Report

Published Date: 
December, 2013
Publisher: 
Guinea EITI

This EITI Report covers Guinea's extractive sector in 2012. It was published in December 2013. 

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All publications

View all documents related to Guinea in our publications library

Contacts

Gisela Granado EITI

Gisela Granado

gisela.granado
Country Manager
ggranado@eiti.org

EITI responsibilities: Support EITI implementing countries

Gisela joined the team at the EITI International Secretariat in May 2014. Having worked at the Trinidad and Tobago EITI National Secretariat over the last two years,

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Bady Balde EITI

Bady Balde

mamadou60
Regional Director Francophone Africa
bbalde@eiti.org

EITI responsibilities: ​Geographic: Francophone Africa. Thematic: state-owned enterprises (SOE) and oil sales, artisanal and small-scale mining (ASM) and mineral smuggling, supreme audit institutions (SAIs)

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