Nimba Gold Refinery, inaugurated by President Mamadi Doumbouya in Conakry on November 1, can refine 733 metric tons of gold a year, the company's Moussa Magassouba said, according to Guinéenews. That is more than ten times the 69.56 tons Guinea exported in 2025, according to the central bank BCRG.
Analysis: At half its stated capacity, the refinery could handle about five times Guinea's 2025 gold export volume, by our calculation. Filling it would require significantly higher domestic output or imported feedstock, neither of which officials have quantified. The claimed $4.5bn in annual revenue at half capacity also needs clarification: at Guinea's average 2025 export value of approximately $101mn per ton, that sum corresponds to about 45 tons, not 366. Licensed buying houses, responsible for 49.6 tons of exports last year, must now refine their gold locally. The refinery's ownership, financing and construction cost were not reported.
Source: Guinéenews (private), Guinéenews (Alhassane Bah), report of the inauguration speech by Moussa Magassouba for Nimba Gold Refinery, November 1, 2026, At inauguration, November 1, 2026 and Annual, at 50% of capacity (estimate); Banque Centrale de la République de Guinée, BCRG, Rapport annuel 2025 (PDF file dated October 20, 2026), 2025; Banque Centrale de la République de Guinée (BCRG), BCRG, Allocution du Gouverneur devant le CNT, mars 2026, 2025; Secrétariat Général du Gouvernement, Journal Officiel de la République de Guinée n°2026-19 (October 19, 2026), Arrêtés A/2026/831, 832 and 833/MMG/SGG of October 5, 2026, From October 5, 2026