Burkina Faso has inaugurated its first gold refinery, investing $19 million in a facility designed to increase domestic mineral processing, create jobs and retain more value from the country’s gold production.
President Ibrahim Traoré inaugurated the state-backed Raffinerie Nationale d’Or du Burkina Faso (RAFFINOR-BF) in Ouagadougou as the government seeks to expand local participation in the mining value chain.
Built at a cost of approximately 11 billion CFA francs ($19 million), the refinery has an initial processing capacity of 164 tonnes of gold annually. A second phase is expected to increase its capacity to 515 tonnes per year. The refinery forms part of broader changes in Burkina Faso’s mining sector since Traoré came to power in 2022.
Since 2022, the government has increased the state’s free-carried interest in mining projects from 10% to 15% and established the state-owned mining company, SOPAMIB reflecting the government’s efforts to increase domestic participation in the extraction and commercialisation of mineral resources.
The facility will undertake gold refining, assaying, certification and secure storage, activities that have largely been conducted outside the country as the government expects the investment to generate approximately 100 direct jobs and more than 5,000 indirect jobs.
“Our ambition goes beyond gold,” Traoré said during the inauguration. “We want to make the mining sector a driver of industrial transformation.”
Burkina Faso’s Gold Export
Gold remains the backbone of Burkina Faso’s economy, serving as its leading export commodity and a major source of foreign exchange.
The country produced between 94 and 100.7 tonnes of gold in 2025, including approximately 58 tonnes from 15 industrial mines and more than 42 tonnes from artisanal and semi-mechanised operations.
Gold accounted for nearly 94% of Burkina Faso’s export earnings in the first seven months of 2026, significantly exceeding other major exports, including cotton.
The refinery is expected to help the country capture a larger share of the value generated by its mineral resources by reducing its reliance on foreign facilities for processing and certification.
Previously, much of Burkina Faso’s gold left the country as unrefined doré, requiring additional processing and certification abroad before reaching international markets.
By developing refining capacity locally, Burkina Faso aims to create additional employment, expand technical expertise and retain a greater share of the economic benefits generated by its gold industry.
The planned expansion of RAFFINOR-BF from 164 tonnes to 515 tonnes annually would significantly increase its processing capacity, although the extent to which the facility will handle domestic production and gold from other sources remains to be established.
