(Ecofin Agency) - Guinea and Iran have renewed, on 3 August, the convention on the Société des Bauxites de Dabola-Tougué (SBDT.SA), for a new term of 25 years renewable, based on the new Guinean mining code. The convention was signed in July 1992, for a period of 25 years, then ratified and promulgated on 06 October of the same year.

“This is a revival of a very important project in the cooperation between Guinea and Iran. A project which experienced lengthy delays and which term had almost come to expiry”, explained the minister of Mines, Kerfalla Yansané.

He recalled that, during the 90’s, during the signing of the project, issues about the environmental and social impact were not as important, stressing that today the context has changed and there is the obligation of taking them into account. “So, all the environmental aspects will be taken into account by the project namely, the economic, social and environmental aspect”, reassured Kerfalla Yansané.

The mining concession covers 13 plateaux in the region of Dabola and two others in the Tougué area.

According to Fodé Diaby, Deputy General Manager of the Société des Bauxites de Dabola-Tougué, the project is comprised of a mining section which has a capacity of 4 to 10 million metric tonnes per year and a transport section which will be 50% water and 50% bauxite.

The Société des Bauxites de Dabola-Tougué (SBDT. SA), with a capital of USD 20 million, is owned by Guinea with 49% and 51% for Iran.