SMSD Sarl

Guinea is a poor developing country. The whole society is controversial and even the smallest thing, logical and obvious to someone from the West, is unthinkable in this society. The infrastructure is almost non-existent. Mobile phones with “prepaid” cards are the only means of communication, if and where there is coverage. The electrical output is minimal and very limited. The country is affected by the serious problem of waste and the need for organized management as soon as possible is even greater.

Although the country is one of the world’s poorest countries, however, it is known as the “geologique scandale” (vast mineral wealth) and ranks among the richest countries in the world as regards metals, crude oil, fruit, coffee, etc. Specifically, Guinea holds about: a third of global bauxite reserves (about 18 billion tons) and recorded reserves of approximately 500 tonnes of gold and about 4 million kilo- carats of diamonds. One of the largest diamond in the world, weighing 255.1 carats, was discovered in this country and sold to a Chinese jewellery company (Chau Tai Fock), for approximately 6.7 million Euro. The mineral wealth of the country includes large reserves of high quality iron ore, copper and manganese and other minerals and fossils. Very few countries can achieve such a concentration of mineral resources per square meter of surface.

Societe Multisectorielle De Developpement SARL (SMSD), is the local established, well known and very popular organization that has SCIN’s full attention and support. SMSD is situated in the country’s capital city named Conakry. It’s main activities are the mining of gold and diamonds and with a currently number of 87 employees, it is being considered as one of the biggest local employers in the country.

With this investment program, SCIN is to increase its shares and voting rights gradually, by investing in SMSD in two stages, after proven results.
In the first phase of investment, it shall:
• enable the provision of new high quality mining licenses
• continue semi-automatic excavation operations with excavation machinery, water pumps, more staff, extra washing units, etc.
• support of the company’s departments for a shorter period

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