History of LEFA

The fragile state of Guinea’s public finances in the early 1990s led the government to improve the country’s investment climate. The mining industry was promoted and a new mining code was established in 1995. This code defined incentives and ownership and gave the government 15% free equity in gold operations.

The first gold was poured at Lero Mine in the LEFA Corridor in 1995.

Ten years later Crew Gold announced an offer to purchase 100% of the shares of Guinor, which at that time had an 85% interest in its subsidiary, Société Minière de Dinguiraye (“SMD”) – the owner of the LEFA mineral property. Crew completed the purchase of the remaining 15% of SMD from the Government of Guinea in June 2006.