Public Management

Guinea approves a bill that will bolster local content requirements in the mining industry

Guinea approves a bill that will bolster local content requirements in the mining industry
Friday, 23 September 2022 14:38

Upon taking office in September 2021, President Mamadi Doumbouya set several priorities, including getting Guineans to be more involved in the exploitation of the country’s mineral resources. For that purpose, a draft law has been prepared and submitted to the transitional parliament.

Late Thursday, September 22, 2022, the Guinean transitional council passed two bills, including one concerning local contents. The bills on local contents were submitted to the parliament some weeks ago. It aims to promote skill transfer and get Guineans more involved in the national economy, in the mining sector particularly. 

In the first few weeks after taking office last September, Colonel Mamadi Doumbouya, now President of the Transition, made the "local content" a key issue in his discussions with actors in the Guinean mining industry. 

The transitional president requires mining companies to exclusively entrust land transport contracts to nationals, except in cases of force Majeure. He also asked mining investors to prioritize local skills, at least for administrative positions.

The Guinean mining sector already has a regulatory framework overseeing the “local content” part. The framework includes financing projects and infrastructure to profit local communities, training and capacity building for Guineans, and the use of local suppliers.

Despite that framework, residents usually point to the mining sector’s failure to improve living conditions. According to local media outlets, the new bill passed aims to correct some shortcomings noted in the application of provisions of the previous framework.  

Guinea is the world's second-largest producer of bauxite, a mineral used in the production of aluminum. It is also a major gold producer in the West African region and has significant diamond and iron ore reserves.

Emiliano Tossou

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Senegal raised CFA108.79 billion ($195 million) on the regional market but at rising short-term borrowing costs. Its 364-day yield reached 6.79%, 63...
Nigeria’s real GDP grew 4.07% year-on-year in Q4 2025, up from 3.98% in Q3, according to the National Bureau of Statistics. Oil sector growth...
BGFIBank Cameroon raises capital from 20 to 50 billion CFA Move exceeds new CEMAC minimum capital requirement Reform aims to boost resilience, expand...
EIB invested 3.1 billion euros in Africa 2025 About 46% allocated to climate, sustainability projects Funding aligned with EU Global Gateway...
Most Read
01

Amazon begins talks with Kenya on low-Earth orbit satellite broadband Kenya’s digital market ...

Amazon Turns to Kenya as Its Next Low-Orbit Satellite Internet Bet in Africa
02

Dangote to list $20-25 billion refinery within five months NNPC holds 7.25% stake; dividends...

Dangote Sets IPO Timeline for Its $20B+ Nigerian Refinery, Eyes Retail Investors
03

DRC seeks ITC support for local battery value chains Musompo SEZ targets $2 billion private ...

DRC seeks ITC support to advance battery mineral value chains
04

Algeria’s NESDA and the Algerian‑Saudi Investment Company sign cooperation deal focused on researc...

Algeria’s NESDA, ASICOM Sign SME Investment Deal; Funding Details Unspecified
05

Senegal launches 200 billion CFA bond in UEMOA Proceeds to fund 2026 budget, transformation agend...

Senegal Launches $360 Million Regional Bond Sale
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.