Burkina Faso Opens First Gold Refinery in Push to Control Its Mining Wealth

Burkina Faso has opened its first gold refinery, a move the military-led government says will increase state control over the mining sector and retain more of the value generated by the country’s gold industry.

Junta leader Captain Ibrahim Traoré inaugurated the Raffinor-BF facility in Ouagadougou on Monday. His government has made domestic processing and tighter oversight of natural resources central to its economic agenda.

“We want to refine all our metals on site … we want to have the entire value chain on site,” Traoré said at the ceremony.

The presidency said the refinery cost more than 11 billion CFA francs, or about $19 million. It said the project was financed by the state, including through the National Precious Metals Company, known as SONASP, as well as by private investors.

Raffinor-BF is expected initially to process 164 tonnes of gold a year. Authorities say capacity could eventually rise to 515 tonnes, well above Burkina Faso’s current reported annual production. The government has also said the facility could process gold from other countries in the region, helping Burkina Faso position itself as a regional refining centre.

Burkina Faso is one of Africa’s major gold producers. Official figures cited by the Associated Press put production at 94 tonnes last year. The World Gold Council reported that the country’s gold output rose 17% year on year in the second quarter of 2026, driven in part by higher production at several mines.

The refinery is being launched as authorities seek to bring the country’s large informal and artisanal mining sector under closer control. Smuggling and informal trading have made it difficult to determine how much gold is produced and where it is ultimately sold.

The government has also alleged that illicit gold trading helps finance Islamist armed groups. Burkina Faso has faced years of attacks by groups linked to al-Qaeda and Islamic State, with violence affecting large parts of the country. The government’s claims about the role of gold trading in financing armed groups have not been independently established.

Traoré’s administration has introduced broader changes to the mining industry since taking power in a 2022 military coup. According to the report, foreign mining companies must give the state a 15% stake in their operations and provide training for local workers.

Authorities also suspended exports of gold from artisanal and semi-mechanised mines in 2024. They said the measure was intended to improve regulation and reduce illicit trade.

Mines Minister Yacouba Zabré Gouba described the refinery’s opening as an important step toward retaining more economic value from Burkina Faso’s natural resources.

“Our gold will no longer be used to create added value for others while our people remain in need,” he said.

The project is part of a broader shift across West Africa, where governments are seeking greater control over mineral resources and promoting domestic processing. Guinea and Ghana have introduced restrictions affecting exports of unrefined gold, while Mali is developing a refinery with Russian assistance. Ivory Coast has also announced plans to open a refinery.

Raffinor-BF will now serve both as a gold-processing facility and as a symbol of Traoré’s stated effort to reduce reliance on foreign companies and keep more mining revenue inside Burkina Faso. The extent to which it achieves those goals will depend on production levels, enforcement against smuggling and the government’s ability to regulate the informal mining sector.