Guinea's junta sack foreign minners, cancel over 50 mining permits for gold, bauxite, diamonds and graphite

The dice continues to roll in the African continent and this time, it is the people of Guinea who are about to witness a show.

Fresh reports indicates Guinea’s junta has cancelled over 50 mining permits for gold, bauxite, diamonds, and graphite given to foreign minners.

The decision comes as Mamady Doumbouya, the junta leader claims to be seeking greater control over the sector.

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Since coming to power back in a September 2021 coup, he has been trying to make things work smoothly in the country and one of the first step is for locals to manage their minning sector.

The decree also ordered permits to be withdrawn from companies that do not comply with the country’s mining code.

No reason has been offered for the decision. Foreign companies have until the end of May to submit proposals for building refineries to ensure local processing of the mineral bauxite.

Guinea is one of the world’s poorest countries despite having plenty of natural resources.