Guinea Inaugurates First Gold Refinery to Boost Local Processing
Guinea has inaugurated its first gold refinery in the capital, Conakry, as the West African nation seeks to capture more economic value from its mineral resources and reduce reliance on exporting unprocessed gold.
President Mamadi Doumbouya officially opened the Nimba Gold Refinery on Sunday, November 1, 2026, at Gbessia, marking a significant step in the government’s drive to expand domestic mineral processing.
The facility is designed to refine up to 733 tonnes of gold annually at full capacity, according to its management. The government has not yet disclosed its actual production levels following the inauguration.
Mines and Geology Minister Bouna Sylla said Guinea had historically exported gold in its raw state, leaving much of the additional value generated through refining outside the country.
The government aims to refine 30 per cent of the country’s gold production locally and has moved to restrict raw gold exports as part of its broader industrialisation strategy.
Guinea produced and exported approximately 70 tonnes of gold in 2025, including around 50 tonnes from artisanal mining, according to figures cited in local reporting. Authorities also plan to purchase up to 30 per cent of gold produced by industrial and semi-industrial mining companies, with payments in local currency, to help strengthen the country’s foreign-exchange reserves.
The refinery is expected to support skilled employment, improve gold traceability and strengthen government oversight of the mining sector.
The move reflects a wider trend across West Africa, where countries are investing in domestic refining to retain more revenue from their natural resources rather than exporting raw commodities for processing elsewhere.
