Burkina Faso inaugurated RAFFINOR-BF, its first gold refinery, in Ouagadougou on 28 September 2026. Captain Ibrahim Traoré opened the plant to process gold at home rather than export it raw.
According to the Burkina Faso presidency, the facility cost more than 11 billion CFA francs, or about $19 million. State firm SONASP and local private investors financed it.
The plant can refine 164 tonnes of gold a year in its first phase. Officials say capacity could later rise to 515 tonnes, well above national output.
The opening fits Traoré’s sovereignty drive after Burkina Faso expelled French forces and later cut diplomatic ties with Paris. Mining policy now targets more value inside the country.
Burkina Faso produced about 94 tonnes of gold in 2025. Industrial mines supplied roughly 52 to 58 tonnes. Artisanal and semi-mechanised operations added more than 42 tonnes.
Gold accounted for nearly 94% of export earnings in the first seven months of 2026. Exports of goods rose 61% year on year to CFA 5.4 trillion by end-July.
Industrial output reached 31.857 tonnes by the end of July 2026, up 12.8% from a year earlier. July alone delivered 5.105 tonnes, a 27.4% increase.
The refinery will process doré into 99.9% fine bars. It includes a foundry, assay laboratory, secure storage and a jewellery unit on a five-hectare site.
Officials expect about 100 direct jobs and 5,000 indirect jobs. Traoré said Burkina Faso wants “the entire value chain on site.”
The opening caps mining reforms since Traoré took power in 2022. The 2024 mining code raised the state’s free-carried stake in projects from 10% to 15%.
The state mining company SOPAMIB took control of several former foreign-operated mines. Mining revenues rose to 838 billion CFA francs in 2025 from 636 billion in 2024.
West Africa is racing to refine gold locally. Guinea banned raw gold exports in June and built a large plant. Ghana restricted unrefined small-scale exports.
Mali is constructing a refinery with a Russian partner. Ivory Coast plans a 100-tonne unit in 2027. The region produced an estimated 11 million ounces in 2025.
Burkina Faso’s plant has spare capacity and could process gold from neighbours. Gold still dominates the economy, contributing about 15% of GDP in recent official estimates.
The government created a sovereign mining investment fund in 2026 to channel surplus revenues into industry and infrastructure. Security risks and limited diversification remain constraints.
