Burkina Faso launches first gold refinery

Burkina Faso has launched its first gold refinery, the RAFFINOR-BF refinery, with the primary aim of processing its mineral resources domestically.

The country’s military leader, Ibrahim Traore, inaugurated the refinery in Ouagadougou on Monday. He described the refinery as a part of the administration’s plan to cut dependence on primary exports.

According to a statement by the Burkina Faso government’s Information Service, Mr Traore said Burkina Faso has “reached a historic milestone in its quest for economic independence.”

“Our ambition is no longer to be a country that simply extracts and ships its raw materials abroad. We want to refine all our metals locally… we want to have the entire value chain here,” he said.

Ouagadougou is the continent’s third-leading gold producer. It comes after Ghana and Mali, with its output in 2025 exceeding 94 tonnes, according to the World Gold Council. However, the country has struggled to regulate the informal mining sector because of weak enforcement, insecurity, and illicit gold trafficking.

Since coming into power, Mr Traoré has tried to increase state involvement in the mining sector. Last year, the government raised the state’s ownership stake in mining projects from 10 to 15 per cent. The government has also created a national gold reserve.

His administration has also linked some illegally traded gold to the financing of armed Islamist groups operating in the country. The Traore government hopes the new facility can turn the landlocked country into a regional gold-refining hub.

The refinery cost more than $19 million and has a refining capacity of 164 tonnes of gold per year.

According to the country’s Minister of Mines, Yacouba Gouba, the state financed the project through the National Precious Substances Company (SONASP), alongside private-sector partners.

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He said the state plans to increase capacity to 515 tonnes in the coming years.

He also said the refinery was built to international standards and will process dore gold into fine-gold bars with 99.9 per cent purity.

He suggested that the country aims for the refinery to process gold sourced from other parts of the region

“This is the day we take back the keys to our own house. Our gold will no longer be used to create added value for others while our people remain in need,” he said.