The government says the project will strengthen local mineral processing, create jobs and help the country retain more value from its gold resources.
CONAKRY, Guinea Guinea is set to strengthen its position in Africa’s mining industry with plans to establish a major gold refining hub in the northeastern city of Kankan, as the government pushes to process more of its mineral wealth within the country.
The refinery, which is expected to begin commercial operations in July 2026, forms part of the government’s broader mining reforms under President Mamadi Doumbouya, aimed at increasing local value addition, boosting industrialisation and ensuring that Guinea benefits more from its abundant natural resources.
The project will be developed through a partnership between the Guinean government and Emirates Minting Factory (EMF), a precious metals company based in the United Arab Emirates. Once operational, the facility is expected to become one of the largest gold refineries in West Africa, with the capacity to refine gold produced in Guinea as well as from neighbouring countries.
Speaking during the announcement in Conakry, Djiba Diakité, Minister Director of the Cabinet of the Presidency, said the initiative reflects the government’s determination to transform Guinea from a raw mineral exporter into a country that processes and adds value to its own resources.
“This project represents an important step towards increasing local value addition and strengthening Guinea’s mining sector,” Diakité said, adding that the refinery will contribute to job creation, skills development and economic growth.
Guinea is one of Africa’s leading producers of gold and the world’s second-largest producer of bauxite, yet much of its mineral output has traditionally been exported in raw form for refining overseas. Authorities believe local processing will enable the country to retain more revenue while improving transparency and oversight within the mining industry.
According to government officials, the refinery will meet international standards for gold refining and is expected to attract additional investment into Guinea’s mining and manufacturing sectors. The project is also expected to support related industries, including logistics, engineering, equipment maintenance and financial services.
Mining experts say the refinery could significantly enhance Guinea’s role in the regional gold market by reducing reliance on foreign refining facilities and creating opportunities for neighbouring countries to process gold within West Africa.
The initiative aligns with a broader trend across the continent, where governments are increasingly encouraging local processing of natural resources to promote industrialisation, expand exports of value-added products and create sustainable employment.
Guinea has introduced several reforms in recent years to strengthen governance in the mining sector and ensure that the country’s vast mineral wealth contributes more directly to national development. Officials say expanding local processing capacity remains a key pillar of that strategy.
If completed as planned, the Kankan refinery is expected to position Guinea as a regional hub for gold refining while reinforcing its ambition to build a more diversified economy driven by value-added industries rather than raw commodity exports.
The project has also been welcomed by industry observers, who see it as another sign of Africa’s growing determination to process more of its own resources, strengthen domestic industries and capture a greater share of the value generated from the continent’s mineral wealth.
TNAM
By Egwu Patience Nnennaya
Tuesday June 30, 2026.
