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Guinea Bans Raw Gold Exports, Mandates Conakry Refining

6/22/2026

28 7 Full Breakdown

Summary

Story summary

President Mamadi Doumbouya banned raw gold exports, requiring domestic processing.
He said gold may leave only after being refined into ingots at a new plant in Conakry.
Operators who continue exporting raw gold will have licenses suspended and contracts terminated.
The Ministry of Mines reported gold exports of 22,142 kilograms in Q1 2026, placing Guinea as Africa’s sixth-largest gold producer and second-largest West African reserve holder.

History

Historical Context

In 1975 President Mobutu Sese Seko of Zaire nationalized the mining sector, banning raw mineral exports and forcing Gécamines to process ore, which cut shipments by 30% to 840,000 ounces. The policy echoes earlier African nationalizations, such as Zambia’s 1970-73 state-run copper mines, and in 2026 President Mamadi Doumbouya of Guinea ordered a similar gold-export ban to keep refining value at a new Conakry plant.

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Story summary

President Mamadi Doumbouya banned raw gold exports, requiring domestic processing.
He said gold may leave only after being refined into ingots at a new plant in Conakry.
Operators who continue exporting raw gold will have licenses suspended and contracts terminated.
The Ministry of Mines reported gold exports of 22,142 kilograms in Q1 2026, placing Guinea as Africa’s sixth-largest gold producer and second-largest West African reserve holder.

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