Just weeks after Burkina Faso launched its first gold refinery, Guinea has launched its own too.
President Mamadi Doumbouya officially inaugurated the Nimba Gold Refinery on 1 November in the capital, Conakry, saying it ''marks a major turning point in the nation's policy of locally processing its mineral resources.''
The new refinery has the capacity to process 733 tonnes per year. This is massive compared with the country's gold production.
According to data from the World Gold Council, Guinea produces about 70 tonnes of gold, with the Minister of Mines Bouna Sylla saying its production for 2025 was worth about $7 billion.
Guinea hopes it will become a gold-processing hub for West Africa and beyond.
The Guinean Presidency described the $30 million plant as ''a powerful symbol'' of commitment to ''economic sovereignty''.
Refined in Guinea
It said gold extracted from Guinean soil should no longer simply leave the country in its raw state. Instead, it ‘’must be processed, enhanced and refined within the country’’ to ensure it fully benefits from its own wealth – including more foreign earnings and job creation.
President Doumbouya took a guided tour of the site, observing the various stages of the industrial process — from the foundry to the cooling and drying tables.
Guinea says it is also planning to build three bauxite processing plants following the launch of the gold facility.
It is the world's biggest producer of bauxite, which is mainly used to manufacture aluminium.
The development in Guinea comes just about a month after Burkina Faso's President Ibrahim Traoré inaugurated his country's first gold refinery with a capacity of 164 tonnes, built at a cost of $19 million to boost local refining.
West Africa is the continent's largest gold-producing region, with Ghana being the top producer. Another major producer is Mali.
The latest push for refineries is expected to curb the decades-long tradition of exporting raw gold outside the continent, which denies the countries the benefits of their natural wealth.
