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Guinea Sets Up Regional Gold Refining Hub Amid West African Competition Mine Minister Reportedly Says

Guinea Sets Up Regional Gold Refining Hub Amid West African Competition Mine Minister Reportedly Says

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Guinea Sets Up Regional Gold Refining Hub Amid West African Competition Mine Minister Reportedly Says"Countries like the UAE do ​not produce ⁠gold but built... 29.06.2026, Sputnik Africa

2026-06-29T23:20+0200

2026-06-29T23:20+0200

2026-06-29T23:24+0200

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Guinea Sets Up Regional Gold Refining Hub Amid West African Competition Mine Minister Reportedly Says"Countries like the UAE do ​not produce ⁠gold but built refining capacity to stimulate broader economic growth. We want to create the same value chain," Bouna Sylla told a news agency. Guinea produced roughly 2.32 million ounces of gold last year, worth ~$7 billion, but retains less than 1% of that value domestically, he clarified. Conakry is also preparing a decree to encourage local refining and plans reforms to formalize artisanal production and improve traceability by 2026, Sylla added.‍ Earlier, the country's president banned raw gold exports. Subscribe to @sputnik_africa Sputnik Africa | X

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