A Mining Concession is automatically granted to a Guinean company by decree issued in a Council of Ministers on the recommendation of the Minister in charge of Mines, following approval by the National Mining Commission, to the holder of an Exploration Permit who has met its obligations under the Mining Code. This application must be made at least three (3) months prior to the expiration of the validity period of the Exploration Permit under which the application is being made.
Investments of an amount equal to, or greater than, one billion (1,000,000,000) USD for substances in categories 1 and 5 for the Mining Concession regime established by this Code.
This threshold is fixed at five hundred million (500,000,000) USD for substances in categories 2, 3, 4 and 6.