The Extractive Industries Transparency Initiative in Guinea (EITI-Guinea) officially presents reports for 2014-2015.

The Extractive industry initiative

The reports of the Initiative for the Transparency of Extractive Industries in Guinea (EITI) for 2014-2015 were officially presented this Wednesday, April 19, 2017, in a hotel reception, in the presence of the Prime Minister, Mamady Youla. The ceremony was attended by representatives of the mining companies as well as several structures and members of the EITI management committee.
In his opening speech, EITI Management Committee Chair Sadou Nimaga said the production, publication and dissemination of EITI-Guinea reports are fundamental requirements of the EITI standard. He made it clear that the reports are meant to stimulate debate because, he says, although both exercises, namely production and publication are necessary, they are not sufficient.
“The reports are made to generate debate at the level of a wide audience. They constitute a tool in the service of the State and the citizen. The presentation of these reports is the beginning of a whole process of information and awareness. A caravan including the representatives of the three stakeholders, namely public administration, mining companies and civil society, will soon travel the interior of the country to bring information to the Guinean citizens at the basic level, “He said.
The Minister of Mines and Geology, Abdoulaye Magassouba, took the floor and recalled the amounts that emerged from the two reports. “It appears from the examination of the two reports that the amounts declared in 2014 are about 1956 billion Guinean francs, or 279 million dollars. In 2015, about 2,192 billion Guinean francs, or 293 million dollars, “he said.
In light of these figures, he said, efforts must be made to increase these amounts, which do not reflect the potential of the Guinean mining sector. “These figures concern us not only with regard to the level of income, but also with respect to sources of income which fundamentally concern only two substances: bauxite and gold. That is why the issue of diversifying our production is a priority for the government, “he said.
For his part, Mamady Youla, in his capacity as Chairman of the EITI Supervisory Board, welcomed the approach of this structure. “It is a real pleasure for me to preside over the official ceremony for the presentation of the reports on the payments made by the mining companies and the revenues collected by the State through its financial boards for the financial years 2014-2015. Thanks to the political commitment of the President of the Republic and the efforts of the public administration, mining companies and civil society, as well as the support of our technical and financial partners, the Republic of Guinea has become a compliant country In July 2014 at the EITI Board meeting in Mexico City, “the Prime Minister recalled.

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