Ouagadougou: Guinean authorities have revoked the mining exploration licenses of 129 companies in the country.

According to Burkina Information Agency, this development was reported by the Guinea 360 news portal, which cited the Guinean Minister of Mines and Geology, Bouna Sylla.

The media outlet stated that these licenses were revoked without financial compensation. The affected companies include both large foreign players and smaller companies operating in the diamond, bauxite, iron ore, and non-ferrous metals mining sectors.

This measure by the Guinean government is part of the strengthening of its control over the country's mining industry.