The government of Guinea has announced a ban on the export of raw gold, in a significant policy shift aimed at increasing the country’s share of benefits from its mineral wealth.
President Mamadi Doumbouya stated that all gold mined in Guinea must now undergo local refining before being exported to international markets. The measure is intended to ensure that a greater portion of the value generated from the country’s gold resources remains within the national economy.
According to the government, the policy is expected to create jobs, strengthen Guinea’s industrial sector, boost state revenues, and develop technical expertise in the mining industry. Officials say local refining will reduce reliance on foreign processing facilities and help build domestic capacity in the value chain.
The decision aligns with a growing trend across Africa, where several resource-rich nations are pursuing policies that encourage local processing and value addition rather than exporting raw materials.
Analysts view the move as part of Guinea’s broader effort to increase economic sovereignty and gain greater control over the management and profitability of its natural resources.
Guinea is among Africa’s mineral-rich countries, with significant gold reserves contributing to its mining sector, a key pillar of the national economy.