13 SEPTEMBER 2011FOXBUSINESS
Impact Of Guinea Mine Code
Edited by : AL CIRCLE
1 min read
Late last week Guinea's government announced adoption of a new mining code allowing it to increase its participation in projects run by commodities companies operating in the country to 35% from the previous 15%, to boost revenues from the country's rich bauxite resources. However, it's still unclear if this refers to existing projects or only to projects where mining concessions haven't yet been granted, a Vale spokeswoman said.
Plans by BHP Billiton plc (BHPB.LN) to develop alumina interests in Guinea could however be impacted by the new mining code, according to the Australian newspaper.
Plans by BHP Billiton plc (BHPB.LN) to develop alumina interests in Guinea could however be impacted by the new mining code, according to the Australian newspaper.
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