Guinea

Guinea

Amends the Mining Code

08 Apr 2013

The amendment cuts mining profit tax rates to 30 percent from 35 percent and reduce the tax rate on bauxite to 0.15 percent of the international market price for aluminium, from 0.55 percent. Other changes include an increase in the number of mining licences that a single company can hold to five from three, a boost to the land area covered by exploration permits, and a lower minimum investment required for certain types of concessions.