Guinea To Strengthen Resource Control, Cancels 129 Mineral Exploration Permits

Guinea has tightened control over its enormous natural resources and reclaimed unused resources by canceling 129 mineral permits.

Following the cancellation of 129 mineral development permits, Guinea’s military administration is stepping up its attempts to exert more control over the nation’s natural resources. A statement released late Monday said the action is a part of a larger effort to recover underutilized assets and transfer them to more engaged investors.

The government wants to “free unused resources for other investors,” according to a senior Ministry of Mines official who spoke on condition of anonymity, who also stated that the majority of the cancelled permits were inactive. The permitting system has been digitized and streamlined to enable improved oversight, the source added.

Although the decision’s impact on significant foreign investments is yet unknown, a second ministry official stated that the majority of the revoked permits were connected to gold exploration and that the state has now received the associated assets back.

Additionally, earlier in the month, Guinea cancelled 51 dormant or non-operational mining licenses related to bauxite, gold, diamond, graphite, and iron sources. Kebo Energy SA and Emirates Global Aluminium’s bauxite concessions were among those impacted.

The highest quantities of bauxite, an essential resource for the production of aluminum, are found in Guinea, which also serves as a major supplier to nations such as China. Therefore, recent government initiatives show a clear commitment to enhancing accountability and maximizing mining industry profits.

As part of larger attempts to improve national revenues, foreign mining operations have also come under more scrutiny in neighboring military-led administrations in Niger, Mali, and Burkina Faso, which are mirrored in this strategic tightening of control.