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Mining Tenure
The 1986 Mining Code was revised in 1995 with a new edition, including a translation into English, issued in October 1997. The code is based on French Civil Law and is comparable to that of other Francophone countries in the region.
The code established a new Government Centre of Mining Promotion and Development (CPDM) which receives international financial support, including substantial sums from the World Bank, in order to harmonise the code with the national legislation standards, to create a national database of
geological information and has included the compilation of new survey data.
Mineral deposits or fossil substances located at or below the surface, underground water and geothermal resources all belong to the State. Holders of mining titles have property rights to extracted substances. The Guinean Mining Code lists five different mining titles:
Reconnaissance Permit: Allows prospecting of mineralised sites not under any exploration or exploitation permit. Duration is three to six months.
Exploration Permit: Grants exclusive right to explore for all the substances specified in the permit. Area: 250 km ² maximum. Duration: Three years, may be renewed twice for two years each.
Exploitation Permit: Exclusive right and free disposal of all the mineral substances specified in the Permit completed by a Mining Agreement. Area comprises the ore deposit and the surface installations as defined by the feasibility study. Duration: Ten years, renewable for five-year periods.
Mining Concession: Reserved for large ore deposits which involve important investments and scopes of infrastructure as defined by the feasibility study; the grant of the Concession is completed by a Mining Convention. The duration is 25 years, renewable for 10-year periods.
Artisanal Mining: Allowed only to Guinean nationals on consigned areas.
The State is entitled to a 15% free equity participation in gold, diamonds and gems. Certain minerals defined by the Code (bauxite, iron ore, etc.) carry 0% free equity.
Mining Tenure
The 1986 Mining Code was revised in 1995 with a new edition, including a translation into English, issued in October 1997. The code is based on French Civil Law and is comparable to that of other Francophone countries in the region.
The code established a new Government Centre of Mining Promotion and Development (CPDM) which receives international financial support, including substantial sums from the World Bank, in order to harmonise the code with the national legislation standards, to create a national database of
geological information and has included the compilation of new survey data.
Mineral deposits or fossil substances located at or below the surface, underground water and geothermal resources all belong to the State. Holders of mining titles have property rights to extracted substances. The Guinean Mining Code lists five different mining titles:
Reconnaissance Permit: Allows prospecting of mineralised sites not under any exploration or exploitation permit. Duration is three to six months.
Exploration Permit: Grants exclusive right to explore for all the substances specified in the permit. Area: 250 km ² maximum. Duration: Three years, may be renewed twice for two years each.
Exploitation Permit: Exclusive right and free disposal of all the mineral substances specified in the Permit completed by a Mining Agreement. Area comprises the ore deposit and the surface installations as defined by the feasibility study. Duration: Ten years, renewable for five-year periods.
Mining Concession: Reserved for large ore deposits which involve important investments and scopes of infrastructure as defined by the feasibility study; the grant of the Concession is completed by a Mining Convention. The duration is 25 years, renewable for 10-year periods.
Artisanal Mining: Allowed only to Guinean nationals on consigned areas.
The State is entitled to a 15% free equity participation in gold, diamonds and gems. Certain minerals defined by the Code (bauxite, iron ore, etc.) carry 0% free equity.