Guinea: 129 mining licences revoked in a bid to clean up the sector

In a press release, the Guinean government announced the revocation of 129 mining exploration licences, marking a new stage in its strategy to strengthen governance in the mining sector. The decision, which mainly concerns gold projects, is aimed at refocusing activities on investors who demonstrate a serious commitment to the country's economic development.

According to a senior official from the Ministry of Mines, speaking on condition of anonymity to Reuters, the majority of the revoked licences were inactive or under-exploited. The assets associated with these licences have now reverted to state control. This measure is part of a wider effort to optimise the exploitation of Guinea's vast natural resources, in particular bauxite, of which the country holds the world's largest reserves and which is essential for aluminium production.

To strengthen transparency and regulatory control, the government has also digitised the entire process for granting mining permits. This initiative aims to reduce inefficiencies and ensure more rigorous management of the sector, a crucial issue for a country whose economy is heavily dependent on mining exports.

This announcement follows a first wave of revocations earlier this month, when 51 mining licences, covering resources such as bauxite, diamonds, graphite, iron ore and gold, had already been cancelled. These measures demonstrate the government's determination to reassess investors' commitments at a time when tensions with certain foreign mining companies have intensified.

One emblematic case concerns Guinea Alumina Corporation (GAC), a subsidiary of Emirates Global Aluminium (EGA). GAC was criticised for failing to honour its commitment to build an alumina refinery, a key project for adding value locally to the bauxite extracted. In December 2024, the company suspended its activities, leaving almost two million tonnes of bauxite unprocessed or unexported, increasing friction with the Guinean authorities.

Mines Minister Bouna Sylla reaffirmed the government's openness to working with investors who respect their contractual obligations. "We remain committed to working with credible partners, while ensuring that the interests of Guinea and its citizens come first," he said. The permit review process will continue in compliance with national legislation, while seeking to balance the expectations of stakeholders.

Guinea is part of a regional dynamic seen in countries such as Niger, Mali and Burkina Faso. These nations are adopting policies aimed at maximising the economic benefits of their natural resources, by imposing stricter requirements on foreign mining companies. This approach reflects a growing desire to retain a greater share of the value generated by mining, for the benefit of local populations.

While this reform aims to strengthen Guinea's economic sovereignty, it also raises questions about its impact on foreign investment. Details of the consequences for existing projects remain limited, but the government's firm stance could redefine relations with players in the mining sector. In a country where bauxite plays a strategic role in global supply chains, particularly for China, the decisions taken in Conakry will continue to be closely monitored.