Burkina Faso’s new Raffinor-BF refinery reflects a significant goal: keeping more of the country’s gold at home rather than shipping it abroad for refining. The facility could strengthen the state’s ability to assay, trace and market gold while creating opportunities beyond mining.
The country opened its first gold refinery, Raffinor-BF, in Ouagadougou on September 28, 2026. Costing 11 billion CFA francs (approximately $19 million), the facility was financed by the state through SONASP and private partners. It has an initial processing capacity of 164 tonnes of gold annually, with a target purity of 99.9%, alongside an analytical laboratory, secure storage, foundry and jewellery unit. A second phase aims to increase capacity to 515 tonnes annually, although this remains a future target.
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Domestic refining could enable Burkina Faso to verify gold quantity and quality before export, strengthen traceability by linking refined metal to documented sources, develop technical expertise in assaying and metallurgy, and retain service fees that would otherwise be paid abroad.
President Ibrahim Traoré framed the project as a sovereignty imperative, stating: “From now on, gold from Burkina Faso must not only be extracted in Burkina Faso; it must be processed, controlled, valued and certified in Burkina Faso.” The refinery also reflects a wider West African trend, with Mali building a refinery with Russia’s Yadran Group and Ivory Coast announcing plans for one next year.
Burkina Faso’s national gold production reached a record 94 tonnes in 2025, including approximately 42 tonnes from artisanal and semi-mechanised mining. The refinery’s initial capacity of 164 tonnes therefore exceeds domestic production, meaning it would need gold from artisanal sources, neighbouring countries or imports to operate near capacity.
Government figures show artisanal production rose from 8.1 tonnes in 2024 to 42 tonnes in 2025 following reforms that created SONASP to purchase artisanal output. Whether this supply can be sustained and formally channelled to the refinery remains a key operational question.
Gold’s importance to Burkina Faso’s economy is difficult to overstate. In Q4 2025, gold accounted for 96.8% of total exports, with export value rising 41.4% to CFA2,055.3 billion. For the full year, gold exports reached approximately $10 billion, representing more than 91% of total export value. The United Arab Emirates and Switzerland together accounted for 93.8% of total exports in Q4 2025, highlighting the concentration of both the country’s export product and its destinations.
A refinery alone, however, cannot eliminate smuggling. If legal buyers offer slow payments, low prices or burdensome procedures, miners may continue selling through informal channels. UNODC has warned that transnational organised crime networks in the Sahel operate across multiple markets, while corruption within legal supply chains can facilitate trafficking.
Artisanal and small-scale mining supports more than 1.8 million livelihoods in the Sahel, but significant fiscal losses occur when extraction and trade remain outside formal systems. Formalisation therefore requires accessible buying centres, clear regulations, prompt payment and effective enforcement alongside processing capacity.
Security presents another major challenge. According to ACLED data, 90% of security incidents in the Sahel are gold-related, with armed groups targeting roads and communities around mining concessions. Burkina Faso accounts for 75% of mining-related violence incidents. These conditions could affect the ability to source, transport and protect gold consistently.
State participation through SONASP also makes transparency essential. The refinery should publish audited accounts, ownership arrangements, operating volumes, fees, tax payments and procurement information. The OECD Due Diligence Guidance provides a framework for responsible mineral supply chains, including documented sourcing, independent audits and corrective action.
The project has projected 100 direct jobs and more than 5,000 indirect jobs. These are announced figures rather than verified outcomes. The indirect estimate may encompass suppliers, transport, security, maintenance and trading, but its methodology should be made public.
Ghana offers a relevant regional comparison. In January 2026, GoldBod signed an agreement with Gold Coast Refinery requiring the processing of gold purchased from the artisanal and small-scale mining sector, with one tonne supplied weekly. Gold Coast Refinery operates in technical partnership with Rand Refinery, the only LBMA-accredited refinery in Africa.
Burkina Faso’s refinery therefore signals a clear policy objective: greater national control over the handling, verification and value of a major resource. A well-run facility could strengthen assaying, improve traceability, build technical expertise and support businesses linked to gold.
Ultimately, success will depend not simply on the refinery’s 164-tonne capacity, but on the tonnes actually refined, the share sourced from documented domestic mines and the revenue that reaches the treasury. Transparency, responsible sourcing, reliable supply and access to formal markets will determine whether Burkina Faso can turn gold refining into a broader engine of economic value.
