Guinea has cancelled the licences of up to 53 mining companies, signalling increased resource nationalism, reported Reuters, citing government sources.
The trend of resource nationalism in the region follows military coups in countries such as Niger, Mali and Burkina Faso since 2020.
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The cancelled licences span a range of operations including bauxite, gold, diamond and graphite.
However, industry insiders suggest that none of the companies involved are significant producers within Guinea’s mining sector, which is primarily dominated by large international companies.
The reasons behind the revocation of licences have not been disclosed by the government, nor has there been any indication as to whether larger mining operations could face similar actions.
A source from the mines ministry hinted: “We have been working for some time on cleaning up the land registry. We can say that this falls within the same framework.”
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By GlobalDataGuinea is renowned for having the world’s largest bauxite reserves, a vital component in aluminium production, and is also a significant exporter of gold and iron ore.
In 2024, the country exported approximately 146.4 million tonnes (mt) of bauxite, according to a notice from the Mines and Geology Ministry on LinkedIn.
Despite the revocation of licences, major bauxite producers in Guinea are expected to mine more than 200mt this year, a 35% increase from the previous year’s record figure.
While the cancellation of licences aligns with regulatory practices, it could also be perceived as a cautionary message to mining operators, the report stated.
Earlier this month, Guinea commenced the process to revoke Emirates Global Aluminium’s mining licence in the country.
