Guinea has banned the export of raw gold as the government moves to increase local processing and ensure more value from the country’s mineral resources remains within the country.
The policy, announced by President Mamady Doumbouya at the end of June, comes as Guinea seeks to transform its mining sector following progress on the major Simandou iron ore project.
Guinea is a major gold and bauxite producer but has historically exported much of its mineral production with limited local processing.
New Gold Refinery to Support Local Processing
The export ban coincides with the construction of a gold refinery in Conakry, which has a reported capacity of 250 tonnes per year.
The facility is significantly larger than Guinea’s current gold production. In the first quarter of 2025, the country exported about 22 tonnes of gold.
The government has warned that companies failing to comply with the new rules could face license revocation or termination of mining contracts.
Guinea Joins Africa’s Push for Local Refining
Guinea’s policy follows a growing trend among African governments seeking greater value from their mineral resources.
Ghana plans to ban unprocessed gold exports by 2030, while Uganda and Tanzania have already introduced restrictions on exports of unprocessed minerals. The Democratic Republic of Congo has also moved to restrict exports of copper and cobalt concentrates in favor of domestic processing.
Guinea is additionally targeting greater local investment, including more alumina processing plants and development funds financed by mining companies.
Miners Raise Concerns Over New Rules
International mining companies have expressed concerns about the uncertainty surrounding the new policy, particularly its implementation timelines and potential conflicts with existing mining agreements.
Analysts also point to challenges involving customs procedures, certification, electricity supply and the ability of the new refinery to operate efficiently.
Artisanal miners could face additional difficulties because they exported an estimated 50 tonnes of gold to neighboring countries in 2025. Transporting raw gold to Conakry for refining could be expensive and time-consuming, potentially increasing the risk of smuggling.
Guinea Seeks More Value From Its Mineral Wealth
Despite the challenges, the government’s push for local gold refining is likely to remain popular domestically.
The policy reflects Guinea’s broader strategy of moving away from exporting raw commodities and toward local mineral processing and value addition.
For the government, the goal is to turn Guinea’s vast mineral wealth into greater economic benefits, jobs, investment and public revenue while strengthening the country’s position as a major African mining hub.