LAGOS, Sept 29 – Burkina Faso has opened its first gold refinery in Ouagadougou, marking a new phase in the country’s efforts to process more of its mineral production domestically and retain a greater share of the value generated by its gold industry.
The facility, known as Raffinor-BF, was inaugurated on Monday by Captain Ibrahim Traoré. The government said the project cost more than 11 billion CFA francs, with financing provided through the state-backed National Precious Substances Company (SONASP) and private-sector partners.
The refinery initially has the capacity to process 164 tonnes of gold annually, while authorities envisage expanding that capacity to as much as 515 tonnes.
At the inauguration, Traoré said Burkina Faso wanted to move beyond exporting raw minerals and develop processing capabilities within the country. “We want to refine all our metals on site… we want to have the entire value chain on site,” he said.
The refinery is being positioned as part of a broader effort to increase domestic participation in Burkina Faso’s mining industry. The government has also established a state-owned mining company and introduced requirements for foreign mining companies to provide the state with a 15% stake in their operations and support the training of local workers.
Gold Production and Informal Mining
Burkina Faso is among Africa’s major gold producers, with output continuing to increase. The World Gold Council reported that the country’s gold production rose 17% year-on-year in the second quarter of 2026, supported by higher output at several mines.
However, the country’s extensive artisanal and small-scale mining sector remains difficult to regulate. Informal trading and gold smuggling have made it challenging for authorities to account fully for production and ensure that the proceeds remain within the formal economy.
The government has also alleged that illegally traded gold contributes to the financing of Islamist armed groups operating in parts of the country.
Authorities suspended exports of gold produced by artisanal and semi-mechanised mines in 2024 as part of efforts to bring the sector under greater regulatory control.
Building a Regional Refining Hub
The refinery’s initial capacity is substantially above Burkina Faso’s current annual gold production, indicating that the government sees potential for the facility to process gold from other producers in the region as capacity expands.
Mines Minister Yacouba Zabré Gouba described the project as part of the country’s effort to capture more value from its natural resources. “This is the day we take back the keys to our own house,” Gouba said at the opening.
“Our gold will no longer be used to create added value for others while our people remain in need.”
The project forms part of a wider government strategy to increase domestic processing across the economy, including in areas such as cotton, textiles and food processing.
Burkina Faso is also joining a broader West African push to retain more mineral value within producing countries. Guinea and Ghana have introduced restrictions on exports of unrefined gold, while Mali is developing its first refinery with Russian assistance and Ivory Coast plans to open a refinery next year.
Burkina Faso’s government has said the new facility could eventually process gold produced by both industrial mines and artisanal operators, potentially making the country a regional centre for gold refining.
