Guinea Revokes Mining Concessions Amid Economic Reforms

Guinea has cancelled a bauxite mining concession initially awarded to Kebo Energy SA, citing the company's failure to deliver on investment promises. The announcement was made through state television, highlighting a decree from junta leader Mamady Doumbouya, who assumed power in 2021. This decision underscores a broader governmental crackdown on mining agreements.

A high-ranking Guinean mining official confirmed the cancellation, while a source linked to Kebo Energy SA disclosed the firm's inability to secure adequate funding for planned developments, including an alumina refinery. Efforts to reach a company spokesperson were unsuccessful.

The move aligns with broader government actions, such as the revocation of Emirates Global Aluminium's licence due to similar failures and the annulment of a gold permit held by Guiter Mining SA. Military regimes in West Africa are increasingly renegotiating mining laws to enhance resource control and revenue.

(With inputs from agencies.)