– Business, Finance, Markets & Economic News
  • Home
  • Economy
  • Business
  • Markets
  • Finance
  • Credit Ratings
  • Policy
  • Tech
– Business, Finance, Markets & Economic News
  • Home
  • Economy
  • Business
  • Markets
  • Finance
  • Credit Ratings
  • Policy
  • Tech
Top News
Ethiopia’s New Gold Refinery Seeks Regional Gold Supplies From East African Markets
Angola’s Fuel Subsidy Bill Could Nearly Double to $4.16 Billion as Oil Prices Rise
MDBs Launch Critical Minerals Framework to Boost Local Processing and Investment
Transnet Signs $400 Million Wabtec Deal to Improve Freight Locomotive Reliability
Dangote Plans to List at Least 10% of Ethiopian Fertilizer Business on Local Exchange
World Bank Group Targets $5.79 Billion in Private Financing for Nigeria in 2026
Pickalbatros Secures $250 Million IFC-Backed Financing for Morocco Hotel Expansion
Kenya’s Economy Grows 5.1% in Second Quarter as Transport and Services Expand
Africa50 CEO Calls for Domestic Capital and Local Processing to Scale Investment Across Africa
South Africa Inflation Forecast at 4.4% in 2026, Target Return Delayed Until 2028
Africa Finance Corporation Targets Iron Ore and Uranium Investments in Africa
World Bank Targets $19 Billion in Critical Minerals Financing by 2030
Senegal Raises $582 Million in Second Regional Bond Sale of 2026
Eni Targets 2028 Start for Mozambique’s LNG Project as Drilling Begins in November
Egyptian Exchange Explores Listing Dangote Group Shares Through Depositary Receipts
SUBSCRIBE
– Business, Finance, Markets & Economic News
Subscribe
– Business, Finance, Markets & Economic News
  • Home
  • Economy
  • Business
  • Markets
  • Finance
  • Credit Ratings
  • Policy
  • Tech
Copyright 2026 - All Right Reserved
Home » Mining » Guinea Bans Raw Gold Exports to Expand Local Refining Industry
Mining

Guinea Bans Raw Gold Exports to Expand Local Refining Industry

by Emmanuel Ebube June 22, 2026
written by Emmanuel Ebube June 22, 2026
FacebookTwitterLinkedinEmail
120

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.

You Might Be Interested In
  • Fortuna Expects Final Permit Soon for Senegal Gold Project

“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.

Read Next

  • DR Congo Establishes First State Gold Refinery to Formalize Mining Trade

    March 12, 2026
  • Nigeria’s Current Account Surplus Rises to $4.98bn on Stronger Oil Exports

    June 18, 2026
  • Türkiye, Nigeria Set $5 Billion Trade Goal as Tinubu Visits Ankara

    January 28, 2026
  • Senegal Seeks Fast Approval of $2.2 Billion IMF Programme and Debt Deal

    September 25, 2026
  • Dangote Fertilizer Plans $750 Million Private Bond Sale to Fund Expansion and IPO

    April 20, 2026

Newsletter

Subscribe to our newsletter for trusted insights on Africa’s economies, markets, and business.

African Economy Inc. Logo

About Us

We are a business and economic intelligence platform delivering in-depth reporting, analysis, and insights on markets, companies and economic developments across Africa.

Our Company

  • AEI Intelligence
  • About
  • Editorial Standard
  • Partnerships
  • Advertise With Us
  • Careers
  • Ownership

News

  • Economy
  • Business
  • Markets
  • Finance
  • Credit Ratings
  • Policy
  • Tech

Useful Links

  • Privacy Policy
  • Terms of Use
  • Closed Captioning Policy
  • Accessibility Statement
  • Personal Information
  • Data Tracking
  • Register New Account

Subscribe Newsletter

Subscribe to our newsletter for trusted insights on Africa’s economies, markets, and business.

©2026 Majons Media Inc. All Rights Reserved.

Facebook Twitter Instagram Linkedin
Manage Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
– Business, Finance, Markets & Economic News
  • Economy
  • Business
  • Markets
  • Banking & Finance
  • Energy
  • Tech
  • Policy
  • African Economy Inc.