The Burkina Faso government has officially opened its first gold refinery, RAFFINOR-BF, in Ouagadougou, marking a significant milestone in the country's efforts to develop its mining sector and increase local value addition. The refinery, located in the 12th arrondissement of the capital city, spans five hectares and features state-of-the-art facilities, including a foundry, laboratory, storage areas, a jewelry section, and administrative offices.
The RAFFINOR-BF refinery is equipped with automated and closed systems, ensuring the production of high-quality gold with a fineness of 99.9%. The facility has an initial annual refining capacity of 164 tonnes, with plans for expansion to 515 tonnes per year. This project is a key component of Burkina Faso's strategy to assert its sovereignty over its mineral resources and promote local processing.
The construction of RAFFINOR-BF was made possible through an investment of 11 billion FCFA, primarily funded by the Burkinabé state through the Société Nationale de Participations et de Gestion (SONASP), with support from private partners. The project aligns with the government's vision to leverage the mining sector as a driver of industrialization, job creation, and local development.
The inauguration ceremony, presided over by President Captain Ibrahim Traoré, marks a new era in Burkina Faso's mining sector. The President and other officials witnessed the refining of the first gold bars, symbolizing the country's commitment to maximizing the benefits from its natural resources. This development is expected to curb the smuggling and misappropriation of gold, which has been a longstanding issue in the country.
The RAFFINOR-BF project has garnered significant attention and praise from citizens, who see it as a strategic move towards economic independence and a demonstration of the government's resolve to challenge traditional mining practices. The project is also viewed as a step towards reducing the country's reliance on external partners and increasing its control over its natural resources.
The mining sector is a crucial component of Burkina Faso's economy, and the development of RAFFINOR-BF is expected to have a positive impact on the country's economic growth and development. The refinery is also anticipated to create new job opportunities and stimulate local economic activity.
With the commissioning of RAFFINOR-BF, Burkina Faso joins the ranks of countries that have taken significant steps to develop their mining sectors and increase local value addition. The country's efforts to maximize the benefits from its natural resources are expected to yield long-term economic benefits and contribute to its sustainable development.
Key points
- The RAFFINOR-BF refinery has an initial annual refining capacity of 164 tonnes, with plans for expansion to 515 tonnes per year.
- The project was financed with an investment of 11 billion FCFA, primarily by the Burkinabé state through SONASP.
- The refinery is expected to produce gold with a fineness of 99.9%, contributing to the country's economic growth and development.
