Guinea Asserts Control Over Mining Sector Amid Resource Nationalism
Guinea, endowed with abundant mineral resources like bauxite, gold, iron ore, and diamonds, is taking decisive steps to assert greater control over its mining sector. In a significant move, the Guinean government has revoked 53 mining licenses, aiming to ensure that the exploitation of its natural resources translates into tangible benefits for its citizens. The Shift Towards Resource Nationalism The cancellation of these licenses marks a clear shift towards resource nationalism. The government cited non-compliance with contractual obligations as the primary reason for the revocations. This action reflects Guinea's commitment to enforcing its mining laws and ensuring that mining operations contribute meaningfully to the nation's development goals. Emphasis on Local Processing and Value Addition A central aspect of Guinea's new approach is the emphasis on local processing of minerals. The government is encouraging mining companies to establish processing facilities within […]