Clifford Chance
Guinea's new mining code: Significant changes in a key mining jurisdiction
2 October 2011
The Republic of Guinea in West Africa has some of the richest mineral deposits in the world. Alongside significant deposits of gold, diamonds and uranium, Guinea has one of the world's largest reserves of bauxite, the raw material for producing aluminium, and world class reserves of high grade iron ore.
President Alpha Conde, Guinea's first ever democratically elected president, pledged during his campaign in 2010 that mining-sector reforms would be the central plank of his reform agenda during his term of office. On 9 September 2011, during his first year in office, Guinea's National Transitional Council (Guinea's interim parliament) unanimously adopted a new mining code. This new mining code (the "New Code") which repeals and replaces the previous mining code of 1995 (the "Old Code") will have significant implications for companies with exploration and mining operations or who are looking to enter the mining sector in Guinea. In this note, we take a brief look at certain key provisions.
