Guinea bans raw gold exports to push domestic refining

Guinea has imposed an immediate ban on exports of unrefined gold, in a move designed to force more of the country's precious metal to be processed at home. President Mamadi Doumbouya announced the policy after meeting industrial and artisanal gold producers and buyers, saying raw gold would no longer leave the country. The decision is intended to increase local value addition and capture more of the economic benefit from one of Guinea's main exports.

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The authorities said the rule takes effect at once and requires all gold to be processed within Guinea before export. They also warned foreign companies operating in the country that they could lose their licences and have mining contracts terminated if they breach the directive. Guinea shipped more than 22 tonnes of gold in the first quarter of this year, according to the authorities, underlining the scale of the sector affected by the change.

The policy comes as a new refinery in the capital, Conakry, nears completion. Officials say the plant has a reported capacity of 250 tonnes a year, which would be enough to handle current production levels. That makes the refinery central to the government's plan to keep more of the gold value chain inside the country rather than exporting raw material for processing elsewhere.

The move places Guinea among a growing number of African countries seeking to tighten control over mineral exports and increase domestic processing. Similar restrictions have already been introduced in Tanzania and Uganda for some unprocessed minerals and metals, while Ghana has said it plans to ban raw gold exports by 2030. Zimbabwe has also moved to restrict concentrate exports of lithium, another strategic mineral, from 2027.

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Guinea is Africa's sixth-largest gold producer, according to the World Gold Council, and gold is one of the country's main export earners. The government has framed the ban as part of a wider effort to boost the economy and create jobs, while also reducing the long-standing pattern in which resource-rich countries export raw materials and import higher-value processed goods. The policy also comes alongside Guinea's position as the world's largest producer of bauxite, giving the country a broader strategic role in global mining supply chains.

What remains unclear is how quickly the new refinery will become fully operational and how strictly the ban will be enforced in the short term. It is also not yet clear how foreign mining firms will adjust their contracts and logistics to comply with the new rules. The next key test will be whether Guinea can process enough of its gold domestically without disrupting production or exports.

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