Jul. 4, 2025 - The Guinean Minister of Mines and Geology has unveiled "bold" measures aimed at transforming the country's mining sector. Bouna Sylla promises an era of increased transparency and better valuation of national resources.

These measures are part of a drive to maximize economic benefits for Guinea, particularly through the exploitation of its bauxite, according to the Mines Minister.

At the heart of this reform is the creation of a national index for Guinean bauxite, the GBX (Guinea Bauxite Index). This index is intended to ensure fairer and more transparent price-setting, explains Bouna Sylla.

"To boost revenues, we are setting up the Guinean bauxite index called GBX, Guinea Bauxite Index, which will be operationalized in the coming months to ensure a transparent bauxite price, similar to other mineral substances," he announced.

Beyond price transparency, the GBX also aims to strengthen relations between mining companies and the tax authorities, and ultimately increase state revenues, the government official added.

He announced that the Guinean government also intends to fully exercise its rights in marketing and transport, in accordance with the provisions of the Mining Code and existing agreements. Minister Sylla clearly stated the position of the State: "The State also intends to fully exercise its marketing rights in accordance with the Mining Code and mining agreements. As you know, the State has the right to market 15% of each company's production in accordance with current legal provisions."

This approach extends to maritime transport. To ensure control of the logistics chain and support the national economy, Guinea will now require that a significant portion of its production be transported by ships flying the national flag. 

A new entity has been created for this purpose: "But we will also exercise our transport right, whereby 50% of production must be transported by ships flying the Guinean flag or equivalent. In this regard, a company has been created called Guinéenne des Transports Maritimes (GUITRAM), which will exercise this transport right for Guinean bauxite," he explained.