Guinea’s transitional military government has revoked 51 mining licenses, targeting a wide array of strategic minerals including bauxite, gold, diamonds, graphite, and iron ore. The sweeping move was announced by Information Minister Fana Soumah on May 15 and formalized through a presidential decree signed by interim President Mamady Doumbouya.
The government said the decision was driven by non-compliance with Guinea’s mining code, particularly concerning concessions that were inactive or underutilized. Authorities emphasized that many of the affected operators had failed to advance development on their licensed sites or meet other regulatory obligations.
Guinea is home to some of the world’s richest reserves of bauxite, the primary ore used in aluminum production. Despite this mineral wealth, the country remains among the poorest globally, with limited trickle-down benefits from its lucrative mining sector reaching ordinary citizens.
“This action marks a turning point in our national strategy to ensure that the mining sector contributes meaningfully to Guinea’s economic and social development,” said Minister Soumah.
In a bid to promote in-country mineral processing and add value to raw exports, the government has given affected foreign companies until the end of May to submit concrete proposals for building local refineries. The move aligns with Guinea’s broader development agenda aimed at enhancing transparency, strengthening governance, and ensuring the country’s vast natural resources directly benefit its population.
Analysts say the decision could have far-reaching implications for the global supply of key minerals, particularly bauxite, where Guinea plays a crucial role in international markets. However, the government appears resolute in its efforts to rebalance the sector in favor of national interest.
This latest development adds to a series of assertive reforms pursued by the Doumbouya-led junta since it seized power in 2021, pledging to clean up corruption, overhaul the economy, and lay the groundwork for democratic elections.
