Guinea Bissau’s main resources are fish, timber, phosphates, bauxite, clay, granite, limestone and unexploited deposits of petroleum. Natural resource rents are 5% of GBP.
Following the coup in April 2012 the African Development Bank Group and the World Bank Group suspended development operations in Guinea Bissau.
Sources: CIA World Factbook, World Bank Group, Trading Economic
Last Update 10.06.10
A national conference on minerals extraction and sustainable development took place in Bissau on 24-26th of March 2010. Several state dignitaries attended the conference – including the Prime Minister – as well as the World Bank and civil society representatives. The final statement that was signed included several recommendations for reforming the extractive sector in Guinea Bissau. These included, for example, the formulation of a long-term plan to develop mining, improving access to information, and the endorsement of several international conventions.
During the March conference, the government of Bissau also announced its intention to implement the EITI. A further sign of this commitment was shown in April 2010, when a protocol between the national PWYP coalition and the Ministry for Energy and Natural Resources was ratified concerning cooperation in future on matters of information and training on EITI implementation.