Burkina Faso opens first $19 million gold refinery to process more of its mineral wealth locally

• Burkina Faso has opened its first gold refinery in Ouagadougou.

• The $19 million facility can initially process 164 tonnes of gold annually.

• The project is aimed at increasing local processing and retaining more value from gold production.

President Ibrahim Traoré inaugurated the National Gold Refinery of Burkina Faso, known as Raffinor-BF, in the capital Ouagadougou on Monday, September 28, 2026.

The facility, which cost more than 11 billion CFA francs, equivalent to about $19 million, is expected to initially process up to 164 tonnes of gold annually. The government says capacity could eventually rise to 515 tonnes.

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The refinery is part of efforts to reduce the need to send gold abroad for processing and increase the amount of the value chain retained within Burkina Faso.

Traoré said the country wants to move beyond extracting raw materials for export and develop more of the processing chain locally.

“We want to refine all our metals on site... we want to have the entire value chain on site,” he said at the inauguration, according to reports.

The government has presented the project as part of a wider drive to strengthen economic self-reliance and increase national control over the country's mineral resources.

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The refinery was financed by the state, including through the National Precious Metals Company, in partnership with private-sector interests. Construction of the facility began in 2023.

Burkina Faso is one of Africa's major gold-producing countries, but the refinery's initial capacity is significantly higher than the country's reported annual production.

Authorities have put last year's gold output at about 94 tonnes, meaning the refinery could process considerably more than the country's current production once fully operational.

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The government has indicated that the eventual 515-tonne capacity could allow the facility to process gold from other countries in the region, potentially giving Burkina Faso a wider role in regional gold refining.

The refinery comes amid wider changes in Burkina Faso's management of its mineral resources.

The government has sought greater state involvement in the mining industry while also taking steps to improve oversight of gold production and trade. Authorities have previously raised concerns about gold leaving the country through informal and unauthorised channels.

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The government has also linked efforts to better control gold production and trade to concerns over the loss of revenue and the financing of armed groups operating in parts of the country.

Burkina Faso's gold industry remains an important part of its economy, making the ability to refine and certify gold domestically a significant development for the sector.

The new facility is expected to refine, assay, certify and store gold, allowing several stages of the value chain to take place within the country rather than abroad.

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Burkina Faso's move comes amid growing efforts by African gold-producing countries to increase local processing.

Mali is also developing a gold refinery, while other major producers in West Africa have taken steps to strengthen state involvement in their gold sectors.

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For Burkina Faso, the new refinery represents an attempt to build greater domestic capacity around one of its most important natural resources. Its ability to operate at the planned higher capacity will depend on access to sufficient gold supplies and the development of markets for its refined output.