Guinea has cancelled 129 exploration licenses to further strengthen control
May 31, 2025
On Tuesday, May 27th, the Guinean government said in a statement on Monday evening that it had cancelled 129 mineral exploration licenses as the country strengthened its control over its assets. A senior official from the country's Ministry of Mining said that the decision was made to release unused resources to other investors. We have simplified the entire system by digitizing it and now can control it better. It is still not clear whether this move will affect any major investments. Another official of the country's government said that most of the revoked licenses were for identifying gold deposits and the assets have been returned to the country's government. Guinea has withdrawn 51 mining licenses that were underutilized or have not yet commenced operations this month. These licenses involve mining concessions for bauxite, gold, diamonds, graphite and iron ore.
