01 SEPTEMBER 2011Reuters
Guinea transitional council debates draft mining code
Edited by : AL CIRCLE
1 min read
Guinea's draft mining code, in
which the government plans to more than double its stake in
mining projects, has been sent to the country's transitional
law-making body for debate and adoption, a member of the
council said on Wednesday.
"The mining code is currently confidential. We have the next 10 days to debate it," council member Amadou Camara said.
A copy of the draft code seen by Reuters in April said the West African country, the world's top bauxite exporter, would take a free 15 percent stake in mining projects.
It also would give the state the option of purchasing an additional 20 percent -- bringing the total potential state share to 35 percent in mining projects.
"The mining code is currently confidential. We have the next 10 days to debate it," council member Amadou Camara said.
A copy of the draft code seen by Reuters in April said the West African country, the world's top bauxite exporter, would take a free 15 percent stake in mining projects.
It also would give the state the option of purchasing an additional 20 percent -- bringing the total potential state share to 35 percent in mining projects.
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