Amanze Chinonye
Burkina Faso inaugurated its first national gold refinery on Monday, Sept. 28, taking a step toward processing more of its gold domestically instead of sending it abroad for refining, Prime Business Africa reports.
President Ibrahim Traore inaugurated the Raffinerie Nationale d’Or du Burkina Faso (RAFFINOR-BF) in Ouagadougou. The facility has a refining capacity of 400 kg of gold per day, equivalent to about 150 tonnes annually.
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Located on a five-hectare site in the Ouaga 2000 district, the refinery includes a foundry, analytical laboratory, secure storage facilities and a jewellery workshop. The government says the project is intended to increase domestic value addition, strengthen oversight of the gold sector and reduce exports of unrefined gold.
Traore laid the foundation stone for the refinery in November 2023. The mining ministry said at the time that much of Burkina Faso’s gold was being refined outside the country and that domestic processing would allow the state and local economy to retain more value from the country’s mineral resources.
The government expects the facility to create about 100 direct jobs and 5,000 indirect jobs. It was developed in partnership with Malian company Marena Gold. A government document establishing MARENA RAFFINOR-BF SA said the joint venture would purchase and process raw gold from industrial, semi-mechanised and artisanal producers.
Gold is a major source of export earnings for Burkina Faso. Government figures showed that the country produced 57.674 tonnes of industrial gold and 457 kg from artisanal operations in 2022, with gold accounting for the largest share of its exports.
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During Monday’s inauguration, Traore received the first gold bar produced and refined entirely in Burkina Faso.
The government has presented the refinery as part of a broader effort to increase national control over the mining sector and retain more of the economic value generated by the country’s mineral resources.
The 400-kg figure represents the refinery’s processing capacity, not Burkina Faso’s daily gold production. The government’s stated objective is to reduce the need to export gold in raw form, rather than to ensure that all gold mined in the country is processed domestically.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
