United States and several other countries have agreed to work
with the West African country of Guinea to improve transparency
in its extractive industries.
The move is part of an
initiative in which several Group of Eight (G8) member states
will partner with countries in the developing world to improve
information about the sale of extractives.
G8 members have
proposed tightening oversight by requiring companies to
disclose all payments they make to foreign governments.
Alpha Condé is also pushing through sweeping reforms of
the countrys mining industry, including a review of
contracts granted under previous regimes.
Guinea is one of the
worlds largest producers of bauxite and holds some of the
highest-grade untapped iron ore reserves. Mining makes up about
80 percent of export revenue and 20 percent of gross domestic