Diamond and bauxite mining permits withdrawn from companies

Guiter Mining and Kébo Energy lose their diamond and bauxite operations in Guinea following the withdrawal of their mining licenses.

The decision is contained in a series of decrees signed by General Mamadi Doumbouya.

According to RFI, Kebo Energy, a Guinean operator with a Chinese partner, has lost its Gaoual-Témélé mining permit in the Boffa bauxite zone (west of the country).

No official reason has been given. But, according to reports, the company is accused of not respecting the schedule: the project has not gone into production.

This accumulated delay is preventing the harvesting of revenues from mining resources, on which the junta was counting.

Guiter Mining produces diamonds and gravel in the south-east of the country.

The company’s license was withdrawn for failure to comply with the mining code. It’s a classic case, but the junta is using it as a tool to put pressure on other mining companies.

At the end of the week, says World Radio, the junta gave EGA 45 days to comply with the mining code and start work on its local refinery.

In Guinea, EGA represents over 2,000 jobs and $3 billion in investments.