Guinea bans raw gold exports to boost local processing

Guinea has imposed an immediate ban on the export of unrefined gold as part of efforts to encourage local processing of the mineral and increase the country’s economic gains.

The directive follows a meeting between President Mamadi Doumbouya and both industrial and artisanal gold producers and buyers. He said the policy is designed to create jobs, strengthen the economy, and ensure more value is retained within the country.

According to the president, Guinea will now process all gold domestically, ending the export of raw gold. He noted that other countries have benefited more by adding value to their raw materials before exporting them.

Guinea is the sixth-largest gold producer in Africa, according to the World Gold Council.

Several other African countries have adopted similar policies in recent years to boost local beneficiation in the mining sector. Tanzania and Uganda have already banned the export of unprocessed minerals such as gold and copper, while Ghana plans to stop raw gold exports by 2030. Zimbabwe, Africa’s leading lithium producer, has also restricted exports of lithium concentrate from 2027.

Gold remains one of Guinea’s key exports, with more than 22 tonnes shipped in the first quarter of the year, according to official figures.

A new gold refinery under construction in the capital, Conakry, is expected to process and export the country’s gold, with a capacity of around 250 tonnes annually—enough to handle current production levels.

Authorities have warned foreign mining companies that they risk having their licences revoked or contracts terminated if they fail to comply with the new rules.

Guinea is also the world’s largest producer of bauxite, a key raw material used in aluminium production.