Burkina Faso Launches First Gold Refinery to Boost Economy

Burkina Faso has inaugurated its first gold refinery, Raffinor-BF, in Ouagadougou, marking a significant step by the military-led government to enhance domestic processing of gold and strengthen state control over the mining sector. The refinery, which cost over 11bn CFA francs (approximately $19 million), was financed by the state through the National Precious Metals Company (Sonasp) in collaboration with the private sector.

Initially, Raffinor-BF will process 164 tonnes of gold annually, exceeding the country's current production levels, with potential future capacity reaching 515 tonnes. Mines Minister Yacouba Zabré Gouba described the opening as a pivotal moment for Burkina Faso, asserting that the country aims to retain more value from its natural resources.

The government has faced challenges in regulating artisanal mining and combating gold smuggling, which has been linked to financing militant groups. The refinery aligns with a broader economic strategy initiated by the government following a coup in September 2022, focusing on greater domestic control over strategic industries.