Burkina Faso's junta leader opens major gold refinery to keep mining profits at home
Summary
Burkina Faso’s military government opened its first gold refinery to process more gold within the country instead of exporting raw gold. The refinery aims to increase government control over gold mining and reduce illegal gold trade that may fund armed groups.Key Facts
- The new gold refinery, Raffinor-BF, is located in Ouagadougou, Burkina Faso’s capital.
- The refinery can initially process 164 tonnes of gold per year, with plans to increase to 515 tonnes.
- Burkina Faso is one of Africa’s largest gold producers, but much gold mining happens informally and unregulated.
- The government launched a state-owned mining company two years ago and requires foreign firms to give the state a 15% share and train local workers.
- The military leader, Captain Ibrahim Traoré, took power in a 2022 coup and promotes national control of natural resources.
- Illegal gold trading is alleged to finance Islamist insurgents linked to al-Qaeda and Islamic State.
- The refinery cost about $19 million and was financed by the government with private sector partners.
- The government suspended exports of artisanal gold in 2024 to regulate the sector better.
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