CONAKRY — Guinea has imposed a ban on the export of unrefined gold, in a move aimed at strengthening domestic mineral processing and increasing value addition within the country.
The decision requires all gold produced in Guinea to be refined into ingots locally before it can be exported abroad.
The policy was announced by military leader Mamady Doumbouya following consultations with gold producers and industry stakeholders.
Authorities said the measure is intended to promote local refining capacity, increase state revenues, and reduce dependence on the export of raw minerals.
Under the new rules, companies and operators who fail to comply with the ban risk suspension of their mining licenses and possible termination of existing contracts.
The policy mirrors similar resource nationalism measures seen in other African countries seeking to retain more value from their natural resources before export.
Guinea is one of Africa’s leading gold-producing countries, with mining playing a central role in its economy.
Officials have not yet announced a timeline for full implementation of the new export restrictions.
