The Republic of Guinea is home to substantial reserves of mineral resources, notably in bauxite and iron ore, and is widely considered in the mining and metals sector as a key jurisdiction to watch for significant growth in the near future.
On 15 February 2013, the Technical Committee in charge of reviewing mining titles and contracts in the Republic of Guinea (« Comité Technique de Revue des Titres et Conventions Miniers », CTRTCM) announced the official launch of its website www.contratsminiersguinee.org which reflects one of the State’s principal commitments under the new mining code adopted in September 2011: transparency and accountability.
The purpose of this website is to inform Guinean citizens, the investor community and all of Guinea’s partners of the contract review process implemented by the State via the creation of the Technical and Strategic Committees.
Various stakeholders, including mining companies, international civil society organizations with the support of the World Bank Institute and the Revenue Watch Institute have contributed to the creation of the website. Though not the first country to make its mining contracts publicly available - such deals are often protected by confidentiality clauses - Guinea is one of the first states in Africa to publish a comprehensive database of its mining contracts. Through this online tool and review process, the Republic of Guinea aims to improve stability and security of the Guinean legal regime and environment, thereby attracting and retaining foreign investments.
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