Nimba Mining Company Establishes an Audit, Internal Control and Compliance Department

KAMSAR, Guinea, 14 September 2026. Nimba Mining Company (NMC), a national mining company wholly owned by the Guinean State, announces the creation of its Audit, Internal Control and Compliance Department (DACIC) and the appointment of Mohamed Barry as its Director.

This decision marks a new phase of institutional consolidation for the company, following an initial period dedicated primarily to restarting operations, securing the integrated mine-to-port chain and recommissioning the mine, rail and port infrastructure.

An Integrated Function Aligned with International Standards

The DACIC brings together four complementary functions within a single department: internal audit, internal control, risk management and compliance, including ethics and the prevention of fraud, corruption and conflicts of interest.

Its organisation is built on clear safeguards designed to ensure independence, accountability and effective oversight. The Director of the DACIC reports administratively to the Chief Executive Officer and functionally to the Audit Committee of the Board of Directors, with direct access to its Chairman. The department operates under a charter approved by the Board of Directors, an annual audit plan approved by the Audit Committee and an escalation mechanism in the event of obstruction or serious misconduct. Audit report conclusions may not be altered on grounds of expediency.

The framework draws on recognised professional standards, including the Global Internal Audit Standards and the Three Lines Model of the Institute of Internal Auditors, the COSO frameworks for internal control and enterprise risk management, the OECD Guidelines on Corporate Governance of State-Owned Enterprises, the EITI Standard for transparency in the extractive industries, and ISO 37301 and ISO 37001 standards for compliance and anti-bribery.

An Experienced Profile to Build a New Function

Mohamed Barry brings more than twenty years of international experience in audit, internal control, governance and finance across the mining, financial and institutional sectors. He served as Senior Audit Manager at Ernst & Young in Conakry, where he coordinated the mining practice in West Africa, and subsequently as Financial Controller of Société Minière de Dinguiraye. From 2012 to 2021, he founded and led the internal audit function of Shelter Afrique, a pan-African financial institution based in Nairobi. He then held senior financial positions in the bauxite sector in Guinea.

He holds an MBA from the University of Liverpool, is a member of the Institute of Internal Auditors and is fully bilingual in French and English.

“The creation of the DACIC reflects a simple conviction: a national mining company must set an example in the stewardship of the assets entrusted to it. With Mohamed Barry on board, we are equipping ourselves with an independent, structured function aligned with international best practice, in the service of the trust placed in us by the State as shareholder and by all our stakeholders,” said Patrice L'Huillier, Chief Executive Officer of NMC.

“I am honoured to join Nimba Mining Company at a pivotal moment in its development. My mission is to build an audit, control and compliance function that protects the company without holding back its operations, working constructively with all departments,” said Mohamed Barry.

A Phased Roll-out

The DACIC will be organised around three units: internal audit; internal control and risk; and compliance. It will be deployed in phases, in step with the company's production ramp-up and its growth projects.

About Nimba Mining Company

Founded in 2025, Nimba Mining Company S.A. is a wholly Guinean-owned company, held by a holding company dedicated to the extraction, processing and value-addition of Guinea's natural resources. It operates the Tinguilinta mine, one of the country's largest bauxite deposits, and the port facilities at Kamsar. NMC embodies a model of sovereign and sustainable governance in the service of the economic and social development of the Republic of Guinea.