Burkina Faso has inaugurated its first gold refinery as the transitional government seeks greater control over the country’s gold industry.
President Ibrahim Traoré opened the RAFFINOR-BF facility in Ouagadougou on September 28. The refinery will allow gold produced in Burkina Faso to be processed and certified domestically.
The facility has an initial capacity of 164 tonnes of gold annually, with plans to reach 515 tonnes. The project cost more than 11 billion CFA francs, about $19 million, and was financed through the National Precious Substances Company (SONASP), with private-sector participation.
Burkina Faso produced 94 tonnes of gold last year, according to official figures. The new facility is expected to increase local processing and retain more value from the country’s gold production.
The refinery is part of the government’s broader push for greater control over natural resources and increased domestic processing of raw materials.
