Guinea President Donaba announces ban on exports of gold ore

Guinea President Mamadi Doumbouya announced a ban on the export of raw gold in order to promote the local processing of gold in the country and support domestic economic development. During a meeting with industrial and artisanal gold producers as well as gold purchasing agencies in the country, Doumbouya stated that Guinea will now require all gold to be processed within its borders, and raw gold will no longer be allowed to leave Guinea. Gold can only be exported after it has been refined into ingots at a newly built factory in the capital, Conakry; any operator who continues to export raw gold will have their license suspended and mining agreements terminated.