Guinea inaugurates its first gold refinery in Conakry
By the AFREEQUE newsroom, based on Africaguinée, Zambian Observer and Guinéenews
Guinea has inaugurated its first gold refinery in Conakry, the Nimba Gold Refinery, capable of processing more than 2,300 kg per day, according to Africaguinée, the Zambian Observer and Guinéenews. Africaguinée cites annual capacity of more than 500 tonnes, while the Zambian Observer puts it at around 730 tonnes and Guinéenews reports the 733 tonnes announced by management. The authorities describe it as Africa’s largest; management says it aims in particular to promote local processing and traceability.
Moussa Magassouba, speaking on behalf of the management and staff of Nimba Gold Refinery, said the project stemmed from an international tender launched by the state under the Mining Code. He explained that the refinery aims to reduce exports of raw gold and enable Guinea to capture more value through refining, according to Guinéenews. He also mentioned the creation of skilled jobs, the transfer of skills to young people and improved traceability in the sector.
The Minister of Mines and Geology, Bouna Sylla, said artisanal mining accounts for around 70% of national gold production. He announced that the state plans to buy up to 30% of the output of semi-industrial and industrial gold companies in Guinean francs, in order to strengthen the foreign-exchange reserves of the Central Bank of the Republic of Guinea and support macroeconomic stability, Guinéenews reports. The minister linked the project to the Simandou 2040 programme and recalled that three alumina refinery projects are under construction.
