Guinea, much like Zimbabwe did earlier this year, has moved to ban the export of one of its more valuable products, gold.
Specifically, the Western African country opted to ban the export of its unrefined gold in an effort to encourage local gold refining.
President General Mamady Doumbouya officially announced the ban following a meeting with industrial and artisanal gold producers, as well as gold traders active in the West African country.
"Guinea possesses the second largest gold reserves in West Africa, but its gold leaves the country daily in raw form to be processed, certified, and sold elsewhere," Doumbouya stated during the meeting, broadcast by the state-owned Radio Télévision Guinéenne.
"From today, I put an end to this practice: Guinea will require its gold to be processed within its borders. Raw gold will no longer leave Guinea," he added.
