Burkina Faso opens its first gold refinery in a push for economic sovereignty
The $19 million plant will initially process 164 tonnes a year and could create about 100 direct jobs, officials said.
- Burkina Faso launched a state-owned refinery to process gold domestically, handling refining, assaying, certification, and storage. Built at a cost of about 11 billion CFA francs , the facility aims to retain more value from the country's leading export.
- Gold accounted for nearly 94% of Burkina Faso's export earnings during the first seven months of 2026. "We want to make the mining sector a driver of industrial transformation," Traor said at the inauguration, underscoring the commodity's strategic importance.
- Initially, the refinery will process 164 tonnes of gold annually, with a second phase planned to increase capacity to 515 tonnes. The government expects about 100 direct jobs and more than 5,000 indirect jobs from the project.
- Reforms since 2022 include increasing the state's free-carried interest in mining projects to 15% and establishing the state mining company SOPAMIB. These changes aim to capture greater economic value from natural resources.
- Across Africa, governments are pushing to process minerals locally instead of exporting raw materials. The refinery addresses Burkina Faso's previous model where gold left the country as unrefined doré for foreign certification and processing.
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Burkina Faso opens its first gold refinery in a push for economic sovereignty – WTOP News
DAKAR, Senegal (AP) — Burkina Faso has opened its first gold refinery as its military-led government seeks greater economic sovereignty after severing ties with traditional Western partners. “From now on, gold from Burkina Faso must not only be extracted in Burkina Faso, it must be processed, controlled, valued and certified in Burkina Faso,” President Ibrahim...
The Toronto Star
Burkina Faso opens its first gold refinery in a push for economic sovereignty
DAKAR, Senegal (AP) — Burkina Faso has opened its first gold refinery as its military-led government seeks greater economic sovereignty after severing ties with traditional Western partners.
The Raffinor National Refinery (Raffinor), which marks for the presidency "a historic step in the quest for economic independence" of Burkina Faso, has an annual production capacity of 164 tons of gold.
Burkina Faso opens $19 million gold refinery as Traoré pushes to keep mining wealth at home
Burkina Faso has inaugurated its first gold refinery as the West African country moves to capture more value from its mineral resources and reduce its reliance on exporting unrefined gold.
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