Situado en el África occidental, The Democratic Republic Senegal has an estimated population of 13 millones de personas y una superficie total de aproximadamente 197,000 km2. of the country’s population, 94 por ciento son musulmanes y 5 por ciento son cristianos (Católica Romana sobre todo). Mientras que el francés es el idioma oficial, los wolof, Pulaar, Jola y mandinga dialectos también se hablan. La capital, Dakar, está en el punto de la costa de África más occidental. -Senegal gained its independence in 1960, following about 75 years of French rule. It is a democratic republic governed under multiparty rule based on the French civil law system, making the country a location of choice for many foreign embassies and international banks as the headquarters for the West African region.

Senegal lies within the Sahel, the semi-desert, Savannah o región que forma una banda ancha a través de África entre el desierto del Sahara al norte y los países con bosques del sur. The landscape is generally low, rolling plains rising to foothills in the southeast. The climate is tropical, with a hot and humid wet season (May-October) and a dry season (November April) dominated by hot Harmattan winds. Senegal’s economy is based on agriculture, primarily groundnuts, cotton, grain crops, livestock and fishing; industry, primarily food processing, gold, iron ore and phosphate mining, fertilizer and cement production and downstream petroleum products; and services, which are the main contributor to Senegal’s GDP.

The estimated 2011 GDP breakdown by sector is: agriculture 15.4%; industry 22.6% (minerals industry approximately 20%) and services 61.9%. The minerals industry is responsible for approximately 20% of Senegal’s export earnings. Foreign exchange is also derived from tourism. Agriculture supports over three quarters of the labor force.

The government is generally pro-mining and passed a new Mining Code in November 2003. Under the Mining Code, appropriate governmental authorization is required to undertake any form of mining activity. In this regard, the right to explore minerals is conferred only by a permit of exploitation or a mining concession.

An exploration permit for mineral exploration activities is granted for a period not exceeding three years, and is renewable. During the exploration phase, the permit holder is exempt from sales tax and duties on imported equipment and supplies necessary for exploration activities, as well as on fuel used for operation of stationary installations.

Following exploration success, the permit holder may enter into a mining contract agreement with the State, which provides the State a free carried interest of 10% of the project. Under the Senegalese Mining Code, numerous fiscal incentives are offered to mining license holders, including a minimum seven-year exemption from income tax, entre otras exenciones fiscales, and the opportunity to secure a lease of up to 25 years for a major project. All mining activities are subject to a royalty of 3% of the value of the mine site payable to the Government.

Foreign mining companies are allowed to expatriate profits. From our company’s perspective Senegal is good place to do business especially for the mining industry. We have cultivated contacts in every level of government and in the local community.

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