Guinea Closes Export of Raw Gold to Spur Domestic Refining

Mon Jun 22 2026 21:55:35 GMT+0000 (Coordinated Universal Time)

Guinea stops shipping unrefined gold, pledges to keep processing in-country, creating jobs and boosting the economy.

Guinea’s new decree bars the export of raw gold, a move championed by President Mamadi Doumbouya to build local refining capacity and create jobs. With a new refinery in Conakry ready to process up to 250 tonnes per year, the country hopes to add value to its gold exports. The policy echoes similar bans in Tanzania, Uganda and Ghana, and follows Zimbabwe’s 2027 lithium concentrate ban. The decision could reshape the region’s mining economy, but risks losing foreign investment if companies violate the rule.

Guinea Bans Export of Raw Gold to Boost Domestic Refining

The Republic of Guinea has outlawed the export of unrefined gold, a policy unveiled by President Mamadi Doumbouya today that will force all gold to be processed within the country before it can be shipped abroad. The aim is to spark domestic investment, increase jobs, and raise the value of Guinea’s gold exports.

President Doumbouya visited artisanal and industrial gold producers in the capital Conakry and announced that “raw gold will no longer leave Guinea.” The decree applies immediately and warns foreign mining operators that violations could lead to licence revocation and contract termination.

Guinea is Africa’s sixth‑largest gold producer, sending more than 22 tonnes of the metal in the first quarter of the year. A new refinery near completion in Conakry has a reported capacity of 250 tonnes a year, matching the country’s current production volume and giving it the ability to meet the modest new domestic demand.

The move follows a regional trend: Tanzania and Uganda already ban the export of unprocessed minerals, while Ghana plans to ban raw gold shipments by 2030. Zimbabwe likewise banned lithium concentrate exports from 2027. The policy aims to boost local economic activity by encouraging processing plants and skilled labour.

Guinea also ranks as the world’s largest producer of bauxite, a key raw material for aluminium. By keeping gold and potentially other mineral streams in‑country, Guinea hopes to diversify its resource‑based economy.

Critics argue the decision may deter foreign investment, but supporters say it is a bold step toward value‑addition and sustainable growth.