Guinea's transitional military government has revoked 51 mining licenses covering key minerals such as bauxite, gold, diamonds, graphite, and iron ore. This action, announced by Information Minister Fana Soumah on May 15, 2025, was formalized through a decree signed by interim President Mamady Doumbouya. The government cited non-compliance with the country's mining code, including inactive or underutilized concessions, as the primary reasons for the revocations .

Guinea holds some of the world's largest reserves of bauxite, a critical ore for aluminum production, making it a significant player in global mineral markets. Despite this wealth, the country remains among the world's poorest, with much of its population not benefiting from the mining sector's revenues. The government's recent actions are part of a broader strategy to ensure that mining activities contribute more directly to national development. Foreign companies affected by the license cancellations have been given until the end of May to submit proposals for building local refineries, aiming to promote in-country processing of bauxite and other minerals .

This decisive step reflects Guinea's commitment to reforming its mining sector, enhancing transparency, and maximizing the economic benefits of its natural resources for its citizens.