Guinea is on the cusp of a significant milestone in its mining sector, as the country prepares to inaugurate its first gold refinery, Nimba Gold Refinery, in Gbessia. The refinery, with a capacity to process 730 tonnes of gold per year, is expected to play a crucial role in the country's economic transformation. According to the Minister of Mines and Geology, the refinery will enable Guinea to refine its gold locally, rather than exporting it for refining abroad.
The Nimba Gold Refinery is part of the Simandou 2040 program, initiated under the presidency of Mamadi Doumbouya, aimed at transforming Guinea's economy. The program seeks to move away from the traditional model of exporting raw materials without prior processing. The refinery will allow Guinea to retain a larger share of the value of its mineral resources, generating more value-added activities and creating jobs.
In recent years, Guinea has exported significant amounts of gold, with 72 tonnes exported in 2024 and 70 tonnes in 2025. However, the gold was refined and processed abroad, resulting in the loss of value-added opportunities and jobs. The Minister of Mines and Geology emphasized that the refinery will enable Guinea to refine its gold locally, achieving a purity level of up to 99.99%, meeting international market standards.
The refinery is expected to create hundreds of jobs, particularly in technical and specialized fields, and stimulate the emergence of new economic activities around the gold industry. The development of jewelry, goldsmithing, and other related industries are among the prospects envisioned. This initiative aims to build a local value chain, enabling Guinean companies to play a more significant role.
The government also aims to strengthen controls and transparency in the gold supply chain, introducing measures to prevent fraud and ensure the traçability of gold. The Pinto platform, an integrated system, has been introduced to track gold from extraction to refining. Additionally, the authorities have implemented Know Your Customer (KYC) procedures to verify the identity of economic actors.
Several technical and administrative structures, including the P5G, the National Geology Laboratory, the Anti-Fraud Brigade, and the General Inspectorate of Mines, are working together to enforce these measures. The collaboration with defense and security forces aims to strengthen controls and gradually sanitize the gold marketing chain.
The Minister of Mines and Geology emphasized the importance of stability and social cohesion in achieving the country's economic ambitions. He called on citizens to preserve the climate of stability established since September 5, 2021, which is essential for attracting strategic investments and transforming the national economy.
Key points
- The inauguration of Nimba Gold Refinery marks a significant milestone in Guinea's mining sector, with a capacity to process 730 tonnes of gold per year.
- The refinery aims to enable Guinea to refine its gold locally, generating more value-added activities and creating jobs.
- The government has introduced measures to strengthen controls and transparency in the gold supply chain, ensuring the traçability of gold and preventing fraud.
