Guinea Opens 1st Gold Refinery Months After Raw Gold Export Ban

Guinea has opened its first gold refinery in the capital, Conakry, as the West African country intensifies efforts to process its mineral resources locally and increase the economic benefits from gold production.

The inauguration of the Nimba Gold Refinery on Sunday, November 1, 2026, comes months after President Mamady Doumbouya announced a ban on raw gold exports, directing mining companies to refine and certify the mineral within the country before exporting it.

Speaking at the inauguration, the Minister of Mines and Geology, Bouna Sylla, said Guinea had for centuries extracted and exported gold in its unprocessed form without benefiting from the additional value generated through refining.

He explained that the government’s target was to process 30 per cent of the country’s gold production domestically.

The new facility, located in the Gbessia area of Conakry, is expected to play a central role in implementing the government’s local refining policy.

According to information presented by the refinery’s management, the facility has an annual processing capacity of 733 tonnes, positioning it as one of the major gold-refining plants in Africa. It is also expected to produce certified gold bars bearing the Made in Guinea label.

The project is part of Guinea’s broader strategy to strengthen its control over the mining industry, improve gold traceability and retain more of the revenue generated from its mineral resources.

The country has also expanded its involvement in gold exploration through a partnership between state-owned Nimba Mining Company and Australian mining firm Resolute Mining.

The two companies established an equally owned joint venture, Landaya Gold, in 2026 to explore and develop potential gold mining projects in Guinea.

Meanwhile, the government’s new refining requirements have introduced fresh compliance obligations for mining operators, particularly large-scale commercial producers, who have been engaging with the Ministry of Mines and Geology over the transition to domestic processing.

The development reflects a wider push among African gold-producing countries to establish local refining facilities instead of exporting raw gold for processing abroad.