Guinea mandates in-country refining for all gold production
via Lefaso.net2 min read
Guinea's President Mamadi Doumbouya announced a significant reform for the mining sector, mandating that all gold produced in the country must be refined in Conakry before export. This decision, made during a strategic meeting on Friday, June 19, 2026, with industrial, semi-industrial, and artisanal gold sector stakeholders, as well as gold purchasing counters, aims to end the export of raw gold. President Doumbouya stated that the move is a commitment to address the paradox of a resource-rich nation with a population living in poverty. He emphasized that Guinea will no longer export raw gold, allowing other economies to benefit from value addition, employment, and profits from its transformation. Instead, Guinean gold will be melted, certified, and valued within Guinea before international export. A modern refinery is expected to become operational soon to support this new policy, which will apply to all operators in the sector. The President warned of severe sanctions for any violations, asserting that Africa will no longer export its raw wealth as poverty.
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