Guinea has banned the export of unrefined gold in an effort to promote domestic processing of the precious metal.
The policy – effective immediately – follows President Mamadi Doumbouya’s meeting with industrial and artisanal gold producers and buyers, aiming to boost the economy and increase employment.
"Guinea will now require its gold to be processed within its own borders. Raw gold will no longer leave Guinea," he said, noting that other countries have reaped benefits from processing and trading their own raw materials.
Guinea is Africa’s sixth largest gold producer, according to the World Gold Council.
Other African nations have taken similar steps to increase domestic processing and value addition in the mining sector. For example, Tanzania and Uganda have already banned the export of unprocessed minerals and metals such as gold and copper, while Ghana plans to ban raw gold exports by 2030.
Zimbabwe, Africa’s top lithium producer, has banned the export of lithium concentrate needed for battery production from 2027.
Gold is a key export for Guinea, with more than 22 tonnes of the metal shipped in the first quarter of this year, according to authorities.
A new refinery nearing completion in Conakry will receive the country’s gold for processing before export. Its reported 250‑tonne‑per‑year capacity should accommodate Guinea’s current production.
Foreign companies operating in Guinea have been warned that they risk losing licenses and having contracts terminated if they violate the directive.
In addition to gold, Guinea is the world’s largest producer of bauxite, essential for aluminium production.
