Wednesday, September 14, 2011

[Guinean news] Govt defends new mining code

The Guinean government is defending a new code it passed to regulate the mining industry. The code gives the government a free 15% share in mining companies and demands greater financial transparency, reported the BBC. Prime Minister Mohamed Said Fofana told a national television audience that the regulations would ensure mining companies paid taxes and royalties and require them to invest a minimum US$1 billion in the country.

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