Guinea’s president Mamadi Doumbouya told gold miners and traders that the country will stop shipping raw gold abroad. The decree, delivered at a meeting with industrial and artisanal producers, aims to shift the value chain toward domestic refining. It also aims to curb illicit smuggling that enriches middlemen.

Guinea ranks among Africa’s top gold exporters, contributing roughly a third of its export earnings. The ban follows years of complaints that miners receive only a fraction of the price once ore is melted overseas. Analysts estimate that domestic processing could add $200‑$300 million annually to the fiscal balance, tightening supply for global markets, and could attract foreign investors seeking processing contracts.

The policy puts pressure on regional buying offices that have relied on cheap feedstock. If enforcement proves strict, exporters may divert ore to neighboring states, reshaping West African gold flows. For investors, the move signals a shift toward value‑added mining in the region, demanding attention to any licensing or capacity upgrades that could affect supply, and may trigger renegotiations of existing export licences.