On June 23, AngloGold Ashanti fell 6.09% in pre-market trading, trading at $80.92/share, with turnover of $203,300. The decline follows Guinea's President Doumbouya announcing an immediate and comprehensive ban on raw gold ore exports over the weekend.

Under the new policy, all gold produced in Guinea must be smelted and certified at the Conakry refinery before being exported in gold bar form. Companies found in violation will have their mining licenses revoked and cooperation agreements terminated. AngloGold Ashanti holds an 85% interest in the Siguiri project in Guinea, and its local subsidiary serves as one of the country's primary industrial-grade gold mining operators, placing the company squarely in the crosshairs of this directive. The company now faces significant operational restructuring and elevated processing costs as it adapts to the mandatory domestic refining requirement.

The stock had already declined approximately 8.68% in the prior session's pre-market trading amid broader gold sector weakness. Within the Gold sector, Newmont Mining is down 3.36%, Wheaton Precious Metals down 3.71%, Alamos down 3.37%, Agnico Eagle Mines down 2.91%, and Coeur Mining down 2.80%.

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