Key facts
- Burkina Faso has opened its first gold refinery, Raffinor-BF, to process the country's mineral wealth domestically.
- Junta leader Ibrahim Traoré stated the goal is to refine all metals on-site and control the entire value chain.
- The new refinery cost over 11 billion CFA francs ($19 million) and was financed by the state and private sector.
- The plant will initially refine 164 tonnes of gold annually, with a potential future capacity of 515 tonnes.
- The government hopes the facility will help combat smuggling and informal trading of gold, which has been linked to financing insurgencies.
- Foreign mining firms are now required to give the state a 15% stake and train local workers.
Burkina Faso has inaugurated its first gold refinery, Raffinor-BF, a move by the military-led government to process more of its significant gold production domestically and assert greater control over the lucrative industry. Junta leader Captain Ibrahim Traoré stated the facility is part of a broader strategy to end reliance on exporting raw materials and to capture the full value chain within the country.
The new refinery, located in the capital Ouagadougou, cost over 11 billion CFA francs ($19 million; £14 million) and was financed by the state, including the National Precious Metals Company (Sonasp), in partnership with the private sector. It has an initial capacity to refine 164 tonnes of gold annually, with potential to increase to 515 tonnes, suggesting it may also process gold from neighboring countries. The government aims to use the facility to better regulate the artisanal and small-scale mining sector, which has been plagued by smuggling and informal trading, and has been linked to financing jihadist insurgencies.
Since taking power in a September 2022 coup, Captain Traoré has pursued a nationalist economic agenda focused on domestic production and control of strategic industries. His government has increased state involvement in mining, requiring foreign firms to cede a 15% stake and train local workers. Exports of gold from artisanal and semi-mechanized mines were suspended in 2024 to improve regulation. This initiative aligns with a regional trend, as Guinea, Ghana, and Mali are also seeking to increase domestic gold processing.