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| |  ) Capital City Conakry Population 9,600,000 Official Language French Governance Guinea became a French protectorate in 1849 and a colony in 1891. The Republic of Guinea was granted independence in 1958 and has held free and democratic elections since 1993. French civil law forms the basis for the country's legal system. Economy Guinea possesses major mineral, hydropower, and agricultural resources, yet remains an underdeveloped nation. The country possesses over 30% of the world's bauxite reserves and is the second-largest bauxite producer. Mining in Guinea Guinea is a country rich in natural resources with a long history of mining. Guinea is under explored relative to its neighbours and it offers tremendous discovery potential. Mining Code The Guinea Mining Code is a modern, workable system of reconnaissance, exploration and exploitation permits and mining concessions. The government retains a 15% carried interest in any developed mines. Mining concessions are granted for 25-year periods with 10-year extensions. Guinea has an attractive mining tax regime that is competitive with world standards. Currency Guinean Franc (GNF) Mining in West Africa West Africa is the fastest growing gold producing region in the world. Growth and investment are fueled by the discovery of new mines, not only in well established mining contries like Ghana and Mali, but increasingly in Guinea. In Western Africa, growth in gold production from 1998-2002 was 34% only second to the growth in gold production in Russia. Principle New Mines and Major Companies in West Africa
Rainy Season The West African rainy season, lasting from June through September makes travel and work difficult and costly, so exploration is customarily curtailed for this period. |
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|  | © 2005 Cassidy Gold Corp. All Rights Reserved. |  | |
