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President Ibrahim Traoré inaugurated the RAFFINOR-BF gold refinery in Ouagadougou on September 28, 2026, marking the first such facility in the country. The state-controlled plant, developed through the National Precious Substances Company with private partners, was built at a cost of 11 billion CFA francs or about 19 million U.S. dollars. It holds an initial capacity to process 164 tonnes of gold annually, with a second phase designed to raise that figure to 515 tonnes, according to Bloomberg.
The refinery will transform doré gold into fine bars with 99.99 percent purity that meet international Good Delivery standards. President Traoré described the project as a step toward mastering the extractive industry and becoming a benchmark in Africa. “Our subsoil is rich and the people must fully benefit from its resources,” he wrote in the guest book, Xinhua reported.
Managing Director Adama Sawadogo said the facility features modern automated equipment built to international standards, including a foundry, laboratory, secure storage area and jewelry workshop. The development is projected to create about 100 direct jobs along with more than 5,000 indirect positions once operational. Sawadogo added that the modular design will support future expansion of refining lines as production volumes grow.
According to the Extractive Industries Transparency Initiative report for 2024, Burkina Faso produced a total of 60.77 tonnes of gold that year, with 53.38 tonnes from industrial mines and 7.39 tonnes from artisanal and small-scale operations. The ministry of mines has reported that nearly all output has historically been exported without domestic refining. This pattern has limited the value retained within the national economy.
Ministry figures show that direct revenues from gold exploitation climbed to more than 567 billion CFA francs between 2008 and 2024. The Directorate General of Economy and Planning data places mining products at 84 percent of total exports in 2024, an increase from 80.4 percent a year earlier. Gold accounted for the overwhelming share of those mineral exports, directed mainly toward Switzerland and the United Arab Emirates.
An assessment published by Ecofin Agency identified securing consistent feedstock as an immediate operational challenge for the refinery. National production rose above 94 tonnes in 2025, yet consistent deliveries from industrial operators and artisanal sites will be needed to approach full capacity utilisation. Imports of gold may supplement local supply if gaps emerge.
The launch forms part of reforms that include creation of the National Precious Substances Company and updates to the mining code focused on local content, an International Monetary Fund review indicated. These steps coincide with efforts to maintain sector resilience despite security issues at some sites. Authorities expect the refinery to help establish Burkina Faso as a West African hub for precious metals processing.
