Guinea Bans Raw Gold Exports to Spur Domestic Processing

Guinea, the world’s biggest bauxite producer, also ranks as Africa’s sixth-largest gold producer with the second-largest gold reserves in West Africa. Gold is mined by industrial firms such as Société Aurifère de Guinée (a subsidiary of AngloGold Ashanti), two semi-industrial companies, and hundreds of artisanal miners. President Mamadi Doumbouya (spelled Mamady in some reports) announced the policy during a meeting with these producers and gold-buying offices broadcast by Radio Télévision Guinéenne.

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At the meeting, President Doumbouya ordered an immediate halt to raw gold exports. All gold must be refined into ingots at a new refinery in Conakry before shipment. Operators that continue to ship unrefined gold face license suspension and termination of mining contracts.

Guinea blocks the export of unrefined gold

The Ministry of Mines and Geology reported that 22,142 kg of raw gold were exported in the first quarter of 2026. Guinea holds the second-largest gold reserves in West Africa and is the continent’s sixth-largest gold producer.

Guinea blocks the export of unrefined goldBloombergBusiness Insider

The president framed the ban as a strategy to retain value domestically and develop a local refining sector. The Ministry of Mines and Geology supplied the export data underpinning the policy. No other government agency issued comments.

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• “Guinea has the second-largest gold reserves in West Africa, but its gold leaves the country daily in its raw state to be processed, certified, and sold elsewhere,” — President Mamadi Doumbouya

Bloomberg

• “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,” — President Mamadi Doumbouya

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• “Guinean gold will be melted, certified, and processed in Guinea before being exported to international markets” — President Mamadi Doumbouya

Bloomberg

• “Any operator who continues to export raw gold will have their license suspended and their mining agreement terminated.” — President Mamadi Doumbouya

Bloomberg

The in-country refining requirement is intended to increase value-added revenue, create jobs and reduce reliance on foreign processors. The ban is expected to affect the regional gold supply chain and related industry structure, though short-term export volumes may decline.

According to market sources, the President of the Republic of Guinea has issued an order to suspend the export of raw gold ore.

Sources spell the president’s name as Mamadi or Mamady. The export figure is consistent, but article reliability scores are low (?40). No opposition or detailed implementation timeline is provided.

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The newly built refinery in Conakry will handle all gold processing before export. Operators that do not comply risk license loss.

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