Burkina Faso launches its first gold refinery to boost domestic processing

Burkina Faso, the continent’s third-largest gold producer, opened its first state-backed gold refinery, RAFFINOR-BF, in the capital Ouagadougou. Constructed since 2023 at a cost of 11 billion CFA francs, the plant initially processes 164 tonnes of gold annually, with a long-term target of up to 515 tonnes. President Ibrahim Traore, who seized power in a 2022 coup, presented the facility as a milestone for national economic independence and a means to keep the value chain within the country.

He argued that refining locally will reduce illicit gold flows that finance jihadist activity, a concern that led mines minister Yacouba Zabre Gouba to halt informal gold exports in 2024. The refinery is funded jointly by the state and domestic private sector, reflecting Traore’s broader push to revive industrial output across sectors such as cotton, tomatoes, and textiles. The project follows ongoing security challenges, with jihadist groups controlling large swaths of the nation despite a civilian volunteer force supporting the military. By keeping more of the gold value domestically, the government hopes to strengthen the economy and undermine funding for insurgents.