Burkina Faso Opens First Gold Refinery

Burkina Faso has inaugurated its first gold refinery as the West African country seeks to process more of its mineral resources domestically and retain greater value from its gold industry.

President Ibrahim Traoré officially opened the RAFFINOR-BF refinery in the capital, Ouagadougou, on September 28, 2026. The facility marks a new step in the government’s efforts to move away from exporting gold in less-processed forms and increase domestic control over the country’s mineral resources.

The refinery was built on a five-hectare site and has an initial theoretical refining capacity of 164 tonnes of gold per year. A second phase is expected to increase its capacity to 515 tonnes annually, according to Burkina Faso’s Chamber of Mines.

The project reportedly represents an investment of about 11 billion CFA francs, equivalent to roughly $19 million, with financing coming primarily from the Burkinabè government through the National Precious Metals Company, known as SONASP, alongside private-sector investors.

The government says the refinery will allow Burkina Faso to capture more of the value generated by its gold resources instead of relying primarily on the export of raw or semi-processed gold.

At the inauguration, Traoré emphasized the government’s objective of ensuring that gold extracted in Burkina Faso is also processed, controlled, valued and certified within the country. He described natural resources as belonging to the people and said they should contribute to improving living conditions and supporting future generations.

Burkina Faso is one of West Africa’s major gold producers. Government figures cited by the Associated Press indicate that the country produced about 94 tonnes of gold in the previous year, meaning the refinery’s initial capacity would represent a substantial share of national production if fully utilized.

The refinery forms part of a wider push by several African governments to increase state participation in mining and process more mineral resources locally. Neighboring countries including Ghana, Guinea and Mali have also taken steps to increase domestic control over their gold industries.

For Burkina Faso, the new facility represents an effort to move further along the gold value chain—from extraction to refining—and potentially increase the economic value retained within the country.