Guinea cuts mining taxes, cites investment climate

(Reuters) - Guinea's National Transitional Council has adopted changes to the country's mining code reducing some taxes, in an effort to improve the investment climate, government officials told Reuters on Tuesday.

The changes cut profit taxes to 30 percent from 35 percent and slash the tax on bauxite to 0.15 percent of the international market price for aluminum, from 0.55 percent, according to a copy of the ammendments obtained by Reuters.

"The changes were made yesterday by the National Transitional Council, during a session, in the presence of the minister of mines " Amadou Camara, a member of the council, told Reuters.