First National Gold Refinery
Burkina Faso inaugurates its first gold refinery to retain value and strengthen supply chain control.
Anonymous
Burkina Faso President Ibrahim Traoré inaugurated RAFFINOR-BF, the country’s first gold refinery, in Ouagadougou, aiming to retain more value from gold production and strengthen domestic control of the mineral supply chain. The state-backed facility is designed to process doré gold into 99.9%-pure bars, with initial annual capacity of 164 tonnes and a planned second phase that would raise capacity to 515 tonnes. It will also conduct refining, testing and certification in-country, which officials say could improve traceability and help the state track gold production more accurately. The refinery’s commercial challenge will be securing enough supply to operate near capacity: despite national production exceeding 94 tonnes in 2025, it will need gold from industrial and artisanal sources and may face competition from other regional refineries.
Key Points
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The refinery cost 11 billion CFA francs (about $19 million) and was financed by the state through the National Precious Substances Company (SONASP) alongside private partners.
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RAFFINOR-BF includes a foundry, an analysis laboratory, secure storage and a jewelry-making unit, in addition to its gold-refining operations.
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The project is expected to create about 100 direct jobs and more than 5,000 indirect jobs.
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The refinery was launched in 2023 with Malian company Marena Gold, but SONASP later acquired its partner’s shares and became the facility’s sole owner, according to Burkina Faso’s 2024 EITI report.
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