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.