CONAKRY, June 22 – Guinean President Mamady Doumbouya has announced a ban on raw gold exports as Guinea intensifies efforts to expand domestic mineral processing and capture greater economic value from its natural resources.
The announcement was made during a meeting with industrial and artisanal gold producers, as well as licensed gold buying offices operating across the West African nation.
President General Mamady Doumbouya officially announced the ban following a meeting with industrial and artisanal gold producers, as well as gold traders active in the West African country.
“Guinea possesses the second largest gold reserves in West Africa, but its gold leaves the country daily in raw form to be processed, certified, and sold elsewhere,” Doumbouya stated during the meeting, broadcast by the state-owned Radio Télévision Guinéenne.
“From today, I put an end to this practice: Guinea will require its gold to be processed within its borders. Raw gold will no longer leave Guinea,” he added.
The new policy forms part of the government’s broader strategy to develop local refining and processing capacity, reduce reliance on raw commodity exports and strengthen Guinea’s mining value chain.
By requiring more gold to be processed domestically before export, authorities aim to increase value addition, create skilled jobs, attract investment into the downstream mining sector and generate higher revenues for the economy.
The move aligns with a growing trend across Africa, where governments are introducing policies that encourage local beneficiation of mineral resources rather than exporting raw materials.
Several resource-rich African countries have adopted similar strategies in recent years as they seek to retain a larger share of mining revenues, promote industrialisation and build domestic manufacturing capacity.
Guinea is one of Africa’s leading mining economies and is globally recognised for its abundant mineral resources, including gold, bauxite, iron ore and diamonds.
The latest policy underscores the government’s ambition to transform the country’s mining industry from a predominantly raw-material exporter into a higher-value industrial sector capable of supporting long-term economic growth.
