Guinea has significant mining potential, which is considered one of the levers of the national economy.
A driver of the national economy
As such, the mining sector has been placed at the heart of a vast and profound reform process aimed at strengthening its impact on the national economy, and more generally on the country’s socio-economic development.
A priority growth sector in the same way as agriculture and energy, the Guinean mining sector is based on a concentration of mineral resources, recognised as one of the most important in the world: bauxite (over 40 billion tonnes of bauxite at 40% Al2O3), iron ore (over 20 billion tonnes of high quality), gold (several thousand tonnes), diamonds (generally of jewellery quality), as well as significant indices of uranium, graphite, copper and oil.
A subsoil rich in minerals:
Mining contributes 12-15% of Guinea’s GDP through several operations:
- GOLD: more than 700,000 ounces per year (among the top 10 producers on the African continent);
- DIAMOND: 700,000 carats per year on average (2010-2015, artisanal production).
The current situation:
The country’s mineral endowments have so far been poorly exploited.
Since 2013, the Guinean government has implemented a new mining policy whose objective is to promote greater profitability for investors, broaden the country’s tax revenue base and promote more local added value, through 5 main guidelines:
- Intensifying geological research
- Promoting on-site processing
- Restructuring and consolidating mixed economy mining companies in difficulty
- Promoting private investment
- Pursuing the reform of the legal, fiscal and institutional environment of the sector
A locomotive of the economic development in Guinea:
The numerous efforts to strengthen the regulatory and governance framework of the sector are part of a strategy to make mining the engine of Guinea’s socio-economic development. This opens the way for major investment opportunities in Guinea’s mining industry.
Numerous operations are underway (CBG, CBK, ANGLO GOLD, SMD, SMB, etc.), with several projects in the development phase for the production, processing and export of iron ore (RIO TINTO). Important opportunities in the field of infrastructure arise from this (railways, roads, regional airports, ports, housing, etc.).
Phénicia conseil: Expert in the recruitment of talents in Guinea’s mining sector:
Phénicia conseil is recognised by the HR departments of the largest mining groups as an international recruitment firm expert in the search for candidates in the mining sector in Guinea
Phénicia conseil having participated in the seven editions of the Mining Symposium at the Sheraton of Conakry has a historical relationship with the Republic of Guinea
Hosted by the Ministry of Mines and Geology of the Republic of Guinea, this is the largest mining event in West Africa with more than 630 official delegates from over forty countries in the world.
The international recruitment firm Phénicia Conseil is regularly solicited by international mining groups for the sourcing of Mining Engineers, Geologists, Exploration Managers, Project Managers, Extraction Managers, Quarry Managers, Drilling Site Managers, Field Engineers and General Managers.