Why it is profitable to mine the gold in the Republic of Guinea?

A so called Faleme gold belt passes through the territory of Guinea. It runs from the north-west to the south-east of Africa and includes rich deposits of gold. The main gold deposits of Guinea are located in the north-east of the country. Mostly, the gold mining was started in the country in the 80s. In contrast to some other countries, the exploration of a lot of deposits was completed in Guinea, while the share of developed deposit is small.

 In most of the gold-mining countries, the known deposits are worked out for more than 70%, and many of these countries have 20 years at most till their full depletion. In this context, Guinea is a "young" gold-mining country. An important difference of Guinea is a vast reserve of particularly placer gold that is easier to explore and put into mining within a short term.

As compared to other countries, the volume of mined gold is not so large. There is large reserve of gold, very low tax rate for mined gold – up to 5 % and favorable investment climate in the country that is continuing to develop.

 During the last 2 years, the State bodies are providing maximum support to the companies investing in the mining industry. Many procedures for license getting are updated and substantially simplified, and can be completed in a shorter period.