Guinea’s gold is predominantly found in the Upper Niger basin in the Siguiri region, in the north-east of the country.
The country produces an annual average of 8-10 tons of gold. Its potential reserves are estimated at 700 tons.
Gold is becoming an important commodity in Guinea as international exploration funding to the country is increasing significantly – KPMG, Guinea Country Mining Guide
Several companies operate industrially in Guinea to produce gold, including:
- Guinea Gold Corporation (SAG, an AngloGold Ashanti subsidiary), which produces 350,000 ounces per annum;
- Dinguiraye Mining Corporation (SMD), which produces 300,000 ounces per annum.
In addition, Wega Mining, a subsidiary of Avocet Mining, has held an operating licence since 2015. It is currently in late-stage funding for operations in Guinea.