Guinea has banned the export of raw gold as the government moves to increase local processing and retain more value from the country’s mineral wealth. The ban, announced in June, comes as a new gold refinery is being built in the capital, Conakry, with capacity to process up to 250 tonnes a year. Guinea exported about 22 tonnes of gold in the first quarter of 2025, meaning the refinery has significant capacity to support future production.
The government says companies that fail to comply could lose their mining licences or have their contracts terminated. The policy is part of a wider push across Africa to process minerals locally rather than export them in raw form. Ghana, Uganda and Tanzania have introduced similar measures, while the Democratic Republic of Congo has restricted exports of copper and cobalt concentrates.
Guinea hopes the policy will create jobs, increase government revenues and ensure more of the value generated by its mineral resources stays in the country. But mining companies have raised concerns about the cost and practical challenges of complying with the new rules, including transport, certification, customs procedures and reliable electricity supplies.
The government has allowed a 90-day transition period to implement the policy. For Guinea, the challenge will be balancing its ambition to build a local processing industry with the need to keep international investors in its mining sector.