Guinea halts gold exports to curb smuggling

Guinea has announced a halt to the export of unrefined gold in order to force companies to refine and process it domestically before selling it internationally, by requiring all producers to melt their gold and have it certified locally. This decision is part of a broader policy to increase local processing of mineral resources, as Guinea currently exports about 20,000 kilograms of industrial gold and 49,000 kilograms of artisanal gold annually. It is the second-largest gold reserve in West Africa. A timeline for implementing this decision or any potential exemptions has not yet been determined.

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