A United Arab Emirates-based mining company, Axis International Ltd, is seeking 28.9 billion US dollars in compensation from Guinea at the World Bank’s International Centre for Settlement of Investment Disputes, following the West African nation’s revocation of its bauxite mining permit earlier this year, Reuters reported.

The dispute highlights ongoing tensions in Guinea’s mining sector, where the government, led by coup leader Mamady Doumbouya, has intensified state oversight and reallocated licences to increase revenue and promote local processing. The strategy has sparked multiple arbitration claims, including recent filings by Nomad Bauxite Corporation and Nimba Investment LLC.

Axis International controls an 85 percent stake in Axis Minerals Resources SA, the company behind the Boffa region mine. Despite government assertions that the operation was underutilised, Axis reported that the mine was active, employing thousands of workers and supporting local communities. In 2024, it produced 18 million metric tons of bauxite, ranking as Guinea’s second-largest bauxite ore export source.

The firm calculated damages based on proven reserves exceeding 800 million metric tons, with counsel Gunjan Sharma describing Guinea’s actions as “knowingly unlawful” and placing the minimum claim at 28.9 billion US dollars. Axis also warned that failure by Guinea to participate in the arbitration or settle compensation could affect the country’s access to international financial markets and donor support.

The case underscores broader investor risks in Guinea’s natural resource sector, where tighter state control over key commodities is altering the operating environment for foreign firms. The Guinean government has yet to comment on the Axis filing.