Burkina Faso's Ibrahim Traoré Unveils First Gold Refinery

Burkina Faso launched its first gold refinery, known as Raffinor-BF, during an inauguration ceremony in Ouagadougou led by junta leader Ibrahim Traoré. This initiative is part of a broader strategy to diminish the country's dependence on exporting raw gold for processing abroad.

The refinery, which cost over 11bn CFA francs (approximately $19 million), was financed by the state and the National Precious Metals Company (Sonasp) in collaboration with the private sector. Initially, the facility will have the capacity to refine 164 tonnes of gold annually, with plans to increase this capacity to 515 tonnes.

Burkina Faso, one of Africa's largest gold producers, has faced challenges in regulating its informal mining sector, which has been affected by jihadist violence. The government has mandated foreign mining firms to provide a 15% stake to the state and to train local workers.

The World Gold Council reported a 17% year-on-year increase in gold output in the second quarter of 2026.