Useful information and links
SMG 2008 celebrating Guinea's golden anniversary of Independence:
It should never be forgotten, the major role that the Republic of Guinea played in African history, being the first African French Colony to gain independence on October 2nd 1958. This set a precedent which compelled other African countries such as Ghana to follow their example and led to the birth of Pan Africanism.
About the Guinean Mining Sector: Richly endowed and unexploited potential
Bauxite: The world's largest bauxite reserve: approximately 40 billion tons (alumina content of more than 40%); accounts for two-thirds of total world reserves, second largest world producer behind Australia.
Alumina: Production of 700,000 tons per year and a potential for 15 millions tons per year. Six new alumina refineries are slated for construction cost of $20 billion, by 2010.
Iron: Two world-class iron deposits: Nimba Mountains (1 billion tons with iron content of 63% to 68%) and Simandou (more than 2 billion tons with iron content of 65% to 68%). Guinea has an estimated 9 billion tonnes of iron reserves.
Gold: More than 24 tons per year produced with a potential of several hundred tons. 500 tons of proven reserves and an estimated total reserve of 1000 tons.
Diamonds: Potential for 25 million to 30 million carats. Diamonds are Guinea's second largest export, after bauxite. With the ban of unlicensed ventures, foreign mining companies have begun to invest in the diamond sector
Oil and gas: Significant potential to be explored both offshore and onshore. Guinea's petroleum code is currently under review
Uranium: An Australian company has been granted six uranium exploration licences and started drilling the Firawa prospect in southern Guinea in May, 2007. The company intends drilling the Bohoduo prospect and doing reconnaissance exploration at the Sesse uranium prospect during 2008.
Other resources: Limestone (estimated reserves, 200,000 tonnes), Nickel (est. reserves of 185,000 tonnes), titanium (est. reserves 192,000 tonnes), graphite, gemstones, cobalt, zinc and lead are all believed to be present.
Mining fiscal and legal environment: Guinea's mining code from 1995 is currently being reviewed, the government is planning to introduce a new mining convention and code, which are expected to unify and modernize taxation. The government is also in the process of reviewing existing mining agreements.
Please click here for a list of Guinea's mineral resources and locations
For further information on Guinea's and its mining industry please find below some useful links:
Guinea general information
http://www.imf.org/external/pubs/ft/scr/2008/cr0820.pdf
http://www.buyusainfo.net/docs/x_5595495.pdf
