Senegal is not dependent on extractive industries, but it is a leading producer of phosphates and also produces gold and natural gas. Yet social tensions have arisen around community relations, subnational revenue transfers and environmental protection. In addition to the national EITI multi-stakeholder group, Parliamentarians also established a Parliamentary Network on Transparency in 2014 to use EITI to improve transparency and public understanding of the management of natural resources.

The three main taxes and fees imposed on companies operating in the mining sector include Value-Added Tax (VAT), royalties and salary withholding taxes on mining and quarrying. In the oil and gas sector, the main taxes and levies include withholding tax on non-commercial profit, proceeds from the state's share of gas production and salary withholding taxes. The Directorate of Tax and Lands is the main body responsible for collecting and managing taxes paid to the central government, while state-owned oil company PETROSEN collects proceeds from the sale of the state’s share of oil and gas production. The government passed a new Mining Code on 8 November 2016, including an article (95) requiring mining companies to participate in EITI reporting. 

The government’s policy is to support contract disclosure, with ten oil and gas production-sharing contracts and 27 mining contracts published online in October 2016. Once signed, all oil and gas production-sharing contracts are required to be published in the Official Journal of the Republic.

Licenses 

Mining licenses and oil and gas production-sharing contracts (PSCs) are awarded on a ‘first come first served’ basis. Mining licenses are awarded by the Directorate of Mines and Geology of the Ministry of Mines and Industry, while PSCs are concluded with PETROSEN on no-objection from the Ministry of Energy.

Senegal's 2014 EITI Report attempted to collect beneficial ownership information directly from companies, although only some companies filled in the template largely with legal ownership information.. The MSG agreed a three-year roadmap on beneficial ownership disclosure in December 2016 and is undertaking a feasibility study in H1-2017. 

Senegal is one of the world’s leading producer of phosphate rock, although it also produces significant quantities of gold and industrial limestone. The country is also a small producer of natural gas, although it expects output of oil and gas to grow following significant discoveries offshore in 2015.