Burkina Faso has inaugurated its first gold refinery, a significant step in the military-led government's efforts to process more of the country's mineral wealth domestically. The refinery, known as Raffinor-BF, was opened by junta leader Ibrahim Traoré in the capital, Ouagadougou, on Monday. The facility is expected to play a crucial role in the country's goal of becoming a regional gold-refining hub. With gold production on the rise, Traoré's government aims to tighten its control over one of its most important industries.
The gold refinery cost over 11bn CFA francs ($19m; £14m) and was financed by the state, including through the National Precious Metals Company (Sonasp), in partnership with Burkina Faso's private sector. The plant will initially have a capacity to refine 164 tonnes of gold a year, significantly more than the country's current annual production. The government plans to increase the refinery's capacity to 515 tonnes, suggesting it also wants to process gold from elsewhere in the region. This move is part of Traoré's drive to increase state control over Burkina Faso's natural resources.
Burkina Faso is one of Africa's largest gold producers, but successive governments have struggled to regulate the informal mining sector, which has been plagued by jihadist violence. The government has alleged that some illegally traded gold helps finance the Islamist insurgency that has engulfed much of the country. To address this, Traoré's government set up a state-owned mining company two years ago, requiring foreign mining firms to give the state a 15% stake in their operations and train local workers.
The World Gold Council reported that Burkina Faso's gold output rose by 17% year-on-year in the second quarter of 2026, driven by increased production at several mines. The country's gold production has been on the rise, with worldwide mine output reaching an estimated record 3,672 tonnes in 2025. Several West African countries, including Guinea, Ghana, and Mali, are also seeking to process more of their gold at home, with Ivory Coast planning to open a refinery next year.
The refinery is a key element of Traoré's nationalist economic agenda, centered on domestic production and greater control of strategic industries. Since taking power in a coup in September 2022, the 38-year-old army captain has promoted a policy of increasing state involvement in the mining sector and reorganizing the trade in artisanal gold. The authorities suspended exports of gold produced by artisanal and semi-mechanized mines in 2024 to better regulate the sector.
Traoré has previously accused smugglers of taking large quantities of gold out of Burkina Faso illegally, with some of the proceeds allegedly helping finance militant groups. The government says the new plant should eventually be capable of refining all the gold produced by both industrial mines and artisanal miners. The refinery also forms part of a broader government campaign to process more commodities domestically rather than exporting them in raw form.
The inauguration of the gold refinery marks a significant step towards achieving Traoré's goal of making Burkina Faso more economically self-reliant. The government believes that by processing more of its gold domestically, the country can retain more of the value from its mineral wealth and reduce its economic dependence on foreign companies and former Western partners.
Key points
- The refinery has an initial capacity to refine 164 tonnes of gold a year.
- The government plans to increase the refinery's capacity to 515 tonnes.
- The project was financed by the state and the private sector for $19m.
