It is no secret that today the republic of Guinea in West Africa is undoubtedly one of the largest mining countries in Africa.
The Government has made significant progress in recent years to reform the mining sector with a vision to make it more efficient, effective and profitable to stakeholders involved, thousands of jobs depend on the sector and in every economic recovery, it has played a crucial role.
According to the latest ranking of the World Bank, Guinea is now the world's second largest bauxite producer, ahead of China and behind Australia. Guinea increased its bauxite production from 59.6 million tons in 2018 to 70.2 million tons in 2019. The 18% growth allows it to grab market share from China.
With this significant progress, the country seeks to attract foreign direct investment to develop its mining sector with more ambition to implement construction projects for alumina refineries, Mining represents 97% of export earnings and has the potential to transform the country's economy.
Natural Resources
Bauxite: 40 billion tons (Boké, Fria, Gaoual, Télimélé, Pita-Labé, Mali, Kindia, Dabola, Tougué, Lelouma, Mamou, Dalaba, Koubia)
Iron Ore: More than 20 billion tons (Beyla, Kérouané, N'Zérékoré, Macenta, Lola, Gaoual, Faranah and Forécariah)
Gold: Several thousand tons mainly in (Siguiri, Mandiana, Kankan, Dinguiraye, Dabola, Kouroussa)
Diamond: More than 10 million carats (Kérouané, Macenta, Kissidougou, Beyla, Forécariah, Télimélé and Kindia)
Limestone: Hundreds of million of tons (Kindia, Mali and Siguiri)
Guinea has also largest base and construction metals.
Sources: Strategy and Development office - Ministry of Mines and Geology Guinea.
Challenges
In the mining sector, there are several challenges to address which are not relevant to Guinea only. Most common are corruption, transparency, environmental impact, displacement, human right policies, infrastructure, the sustainable livelihoods of the communities, land expropriation, corporate social responsibility etc.
It is up to the mining companies to make sure that all social responsibility is in place before engaging, and the no respect of engagements could result in significant delay of operations caused by ongoing frustration, riot and sometimes rebellion.
The last one in Guinea was in 2012 in Zogota, since then there is a decrease in risks relating to community relations.
Corporate Social Responsibility (CSR)
In Har-Che business solutions, we believe that CSR is one of the most important elements which allows companies to work effectively and efficiently in their zone of operation.
As a social impact business, HCBS promotes good governance, fights against corruption, and works closely with mining companies by producing an independent report based on local community relations and benefits. We have a strict zero-tolerance policy for any form of human rights abuse, and we do not collaborate with any company that violates our policy.
In conjunction with the focused business support you would expect from accomplished personnel within HCBS we will deliver Consultancy with Social Impact.
We can ensure that your investment in Africa meets the United Nations Sustainable Development Goals, global Best Governance Standards and benefits the local community whilst meeting your business objectives
If you want to ensure your investment delivers the projected returns and your Corporate Social Responsibility goals you need Har-Che Business Solutions every step of the way.
Contact us now for an initial discussion and a confidential, risk-free review of your investment plans.
CHERIF Harouna, Founder/Director HAR-CHE Business Solutions Ltd
contact@har-che.com