Guinea's military government has revoked 129 mineral exploration permits, primarily for gold deposits, in a bid to tighten control over its natural resources and free up unused assets for new investors.

It was understood that the decision is to release unused resources and that a newly digitalized system allows for better oversight.

Earlier this month, Guinea revoked 51 other mining permits for bauxite, gold, diamonds, graphite, and iron concessions that were either unused or not yet operational.

The recent cancellations have not immediately impacted major investments. The reclaimed assets have been returned to state control.