Guinea Bans Export of Unrefined Gold to Boost Local Processing
The government of Guinea has announced a ban on the export of unrefined gold as part of efforts to strengthen local value addition and promote domestic mineral processing.
The new policy requires that all gold produced in the country be refined into gold ingots within Guinea before it can be exported to international markets.
President Mamady Doumbouya announced the decision following consultations with gold producers and buyers, saying the measure is aimed at increasing the country’s economic benefits from its mineral resources and developing the local refining industry.
Under the new directive, the export of raw or unrefined gold will no longer be permitted. Authorities said the policy is expected to encourage investment in refining facilities, create jobs and enhance the value of Guinea’s gold sector.
The move mirrors similar resource-processing policies adopted by other African countries, including Zimbabwe, which previously restricted the export of raw lithium to encourage local beneficiation and industrial development.
Guinean authorities warned that mining operators who fail to comply with the new regulations will face strict sanctions, including the suspension of operating licences and the termination of mining contracts.
Officials said the measure forms part of broader efforts by the government to ensure that the country’s natural resources contribute more directly to national economic growth and industrial development.
Guinea Bans Export of Unrefined Gold to Boost Local Processing