Burkina Faso has inaugurated its first gold refinery in Ouagadougou, adding domestic processing capacity as the government seeks to retain a larger share of the economic value generated by the country’s gold industry.
RAFFINOR-BF was officially opened on 28 September by President Ibrahim Traoré. According to Burkina Faso’s Ministry of Energy, Mines and Quarries, the facility represents an investment of more than 11 billion CFA francs and was financed principally through the state-backed Société Nationale des Substances Précieuses (SONASP), alongside private-sector participation.
The refinery has a theoretical initial refining capacity of 164 tonnes a year, with modular expansion planned to take capacity to as much as 515 tonnes. The facility includes a foundry, laboratory, gold storage facilities, jewellery production space and administrative buildings.
The scale of the proposed capacity is significant relative to Burkina Faso’s current mine production. The World Gold Council reported that Burkinabè mine production increased by 17% year on year in the second quarter of 2026, reflecting higher output from several industrial operations, including Kiaka and Bomboré.
The government has presented the refinery as part of a broader effort to move beyond the export of mineral output towards greater domestic processing. Traoré said the objective was to develop the entire mineral value chain within Burkina Faso.
Such ambitions are consistent with reforms introduced through the country’s 2024 Mining Code, which increased the state’s free participation in new mining projects from 10% to 15% and created additional opportunities for the state and national private investors to acquire equity.
The reforms have also placed greater emphasis on domestic oversight and participation in the mining economy. The government has strengthened regulatory requirements covering mining operations, mineral processing and commercialisation, while seeking greater participation by Burkinabè investors and institutions.
The refinery also comes against the backdrop of efforts to formalise Burkina Faso’s substantial artisanal and small-scale mining sector. In February 2024, the government suspended export authorisations for gold and other precious minerals produced through artisanal and semi-mechanised operations, directing producers with material for export to engage with SONASP. The measure was presented as part of an effort to improve regulation and organisation of the sector.
Whether the new refinery can ultimately operate at its planned capacity will depend on the availability of sufficient feedstock, including from industrial and artisanal production, as well as the effectiveness of the country’s regulatory and traceability systems. Its opening nevertheless places Burkina Faso within a wider West African movement towards greater domestic control of mineral value chains.
Ghana, for example, introduced a requirement from September 2026 for gold doré purchased through its GoldBod system to be refined domestically before export, while other gold-producing countries in the region are pursuing their own refining and beneficiation strategies.
For Burkina Faso, RAFFINOR-BF therefore represents both an industrial investment and a policy experiment: whether increased domestic refining can translate into broader economic participation, stronger formalisation and greater value retention will depend not simply on the existence of refining infrastructure, but on how effectively the wider gold supply chain is organised and governed.
