Burkina Faso has opened its first gold refinery, Raffinor-BF, in the capital Ouagadougou. The military-led government states this move is part of an effort to process more of the country's mineral wealth domestically and strengthen its control over the gold industry.
Junta leader Ibrahim Traoré said the initiative is part of a broader strategy to end reliance on exporting raw materials for processing abroad, aiming to establish the entire value chain within the country. Mines Minister Yacouba Zabré Gouba commented at the opening, "Our gold will no longer be used to create added value for others while our people remain in need."
The refinery cost over 11bn CFA francs ($19m; £14m) and was financed by the state, including through the National Precious Metals Company (Sonasp), in partnership with Burkina Faso's private sector. The facility is initially capable of refining 164 tonnes of gold annually, which is more than the country's current annual production. The government suggests its eventual capacity could reach 515 tonnes, indicating an aim to process gold from the wider region.
Burkina Faso is a significant gold producer in Africa, but authorities have faced challenges in regulating the informal mining sector, which has been affected by jihadist violence. The government has alleged that some illegally traded gold helps fund the Islamist insurgency. Since taking power in September 2022, Captain Traoré has promoted a nationalist economic agenda focused on domestic production and increased control over strategic industries.