The decision follows consultations with gold refiners, miners, buyers and traders.
President Doumbouya said the ban on raw gold exports would enable Guinea to earn more from its mineral resources while creating jobs for its citizens.
“Guinea will now require its gold to be refined within the country. Unprocessed gold will no longer leave Guinea,” he said.
Doumbouya noted that many countries have benefited for years from Guinea exporting its minerals without adding value domestically.
The move comes as Guinea nears completion of a gold refinery in the capital, Conakry. According to the BBC, the facility will have the capacity to process 250 tonnes of gold annually.
Authorities expect the refinery to strengthen Guinea’s position in the global gold market, improve traceability of the precious metal and curb illegal trade. By processing gold locally, the government also hopes to attract more investment into the mining sector and related industries.
The policy is part of a broader effort by the military-led government to ensure that the country derives greater benefits from its abundant natural resources. Guinea is one of Africa’s leading producers of bauxite and gold, but critics have long argued that much of the wealth generated from mining has failed to translate into broad-based economic development.
Guinea is the sixth-largest gold producer in Africa, with artisanal and industrial mining contributing significantly to the country’s exports. However, much of the gold produced has traditionally been shipped abroad for refining, limiting the value retained by the country.
The decision mirrors similar policies adopted by other African countries seeking to add value to their mineral wealth before export. Tanzania and Uganda have already halted exports of unprocessed minerals, while Ghana plans to do so by 2030. Zimbabwe is expected to introduce a similar ban in 2027, particularly targeting lithium exports.
Analysts say such measures are aimed at increasing government revenues, creating jobs and fostering industrialization, though they also require substantial investment in refining capacity and supportive policies to ensure competitiveness in international markets.
If successfully implemented, Guinea’s latest move could mark a significant shift in how African countries manage their mineral resources, with a growing emphasis on local processing rather than exporting raw materials.
