Guinea’s military government announced the cancellation of 129 mineral exploration permits, reinforcing its control over the country’s valuable assets.
A senior official from the Ministry of Mines explained the move aims to free unused resources for more active investors, streamlining the system through full digitisation.
The official, speaking anonymously, said the digitised system allows better oversight and management of mineral rights across Guinea.
Details remain unclear on whether this decision will impact major investment projects within the mining sector.
Another ministry source revealed that most cancelled permits focused on gold exploration, with those rights now reverting to state control.
This announcement follows a recent decision to revoke 51 underutilised or inactive mining licenses, spanning bauxite, gold, diamond, graphite, and iron concessions.
Guinea had earlier withdrawn bauxite licenses from companies including Kebo Energy SA and Emirates Global Aluminium, underscoring its tightening regulatory stance.
The country holds the world’s largest bauxite reserves, the essential ore for aluminium production, attracting significant Chinese investment.
Guinea’s actions mirror a broader regional trend, with military-led governments in Niger, Mali, and Burkina Faso also intensifying scrutiny on foreign miners.
These nations seek to increase revenues and strengthen sovereignty over their natural resources amid shifting geopolitical and economic pressures.
Guinea’s firm approach signals its intent to assert stronger control over its mineral wealth while promoting investment aligned with national interests.