Guinea no longer wants its gold to leave without a trace. On Friday 2 October, national television read out a decree by President Mamadi Doumbouya that regulates the export of refined gold and associated metals from start to finish. Proposed by the Minister of Mines and Geology, the text builds on the one issued last July, when the country banned raw gold from leaving and made local refining compulsory.
The principle fits in a single sentence. No export request will be considered unless the metal has first been processed in an approved refinery based on Guinean soil. The exporter must then apply to the Guinean Office for the Expertise of Gold, Diamonds and Other Precious Materials, which becomes the gateway for the whole sector.
The paperwork is heavy. Applicants have to supply the refining certificate, the analysis reports drawn up before and after treatment, the weight of the goods, a tax clearance and proof that the gold comes from a lawful source. Even the route is scrutinised, since the carrier, flight number and final destination must all be declared.
On site, nobody works alone. The owner of the gold operates under the eyes of customs, the central bank, the Office and the anti-fraud brigade. Once sealed, the parcels are escorted to the airport. If they do not leave straight away, they stay in the refinery’s vaults, though for no more than fifteen days.
Then comes the money, which is probably what the reform is really about. The production tax has to be settled before any exit permit is granted. The amount depends on the weight and purity actually recorded, with the London afternoon price as the benchmark. Should an inspection reveal a discrepancy, the refinery has 72 hours to put it right. It will also owe the state regular reports on its assay results, yields and technical losses.
The stakes are counted in tonnes. According to the news site Guinee28, the country exported 72 tonnes of gold in 2025 and more than 40 tonnes in the first half of 2026 alone. At those volumes, every bar that slips past the controls is a straight loss for the Treasury.
How the rule will work in practice is still an open question. The reports published so far do not detail the penalties, and the scheme will only succeed if local refineries can handle the country’s entire output. The ministers of Mines and Finance, together with the governor of the central bank, are responsible for enforcing the decree.