Guinea has banned exports of raw gold as President Mamady Doumbouya pushes to keep more value from the country’s mineral wealth inside the economy. The policy coincides with a new refinery in Conakry capable of processing 250 metric tons annually, far above Guinea’s recent output. The government says companies that violate the rule could lose mining licenses or contracts, signaling a tougher approach to local processing. Guinea has previously followed through on similar threats, including taking over a bauxite subsidiary of Emirates Global Aluminium. The government has also introduced broader plans to expand mineral beneficiation, including additional alumina refineries, and created a development fund financed by mining profits. While supporters of the initiative argue that domestic refining could increase state revenues and create jobs, mining companies warn that unclear implementation, infrastructure weaknesses, customs procedures, and existing contractual export rights could create disputes.