Guinea’s military government has revoked 129 minerals exploration permits to tighten control over its natural resources.
A senior Mines Ministry official stated the decision aims to free unused resources for new investors, adding the digitized system allows better control.
It’s unclear if significant investments will be affected by this cancellation.
Another ministry official indicated most cancelled permits targeted gold deposits, now returned to the state.
This month, Guinea also retracted 51 underutilized mining licenses for bauxite, gold, diamond, graphite, and iron.
Previously, bauxite licenses of Kebo Energy SA and Emirates Global Aluminium were also withdrawn.
Guinea holds the world’s largest bauxite reserves, with China being a major operator.
This move to enhance resource control aligns with similar actions by military regimes in Niger, Mali, and Burkina Faso, seeking increased revenue from foreign miners.
