Burkina Faso: Raffinor-BF, a first gold refinery to boost local processing

On September 28, 2026, in Ouagadougou, Burkina Faso inaugurated Raffinor-BF, presented by the Ministry of Mines as the country's first gold refinery. The official investment of 11 billion FCFA (approximately 19 million USD) was financed by the Société nationale des substances précieuses (SONASP) and private partners, according to RTI Info. Spanning five hectares in Ouaga 2000, the facility has a stated capacity of 164 tonnes of gold per year, compared to 150 tonnes according to other provided data (400 kg/day), highlighting a discrepancy in exact capacity. It is set to produce bars with a purity of 99.9% to 99.99% and includes a foundry, analysis laboratory, secure storage, and a jewelry unit. "Our subsoil is rich and the people must fully benefit from its resources," stated President Ibrahim Traoré. Gold, the country's leading export product since 2009 ahead of cotton, brought in nearly 541 billion FCFA for the state in 2022. In 2025, Burkina Faso had 15 industrial mines with a production of 94 tonnes. Raffinor-BF is expected to help retain a greater share of this value locally, which has largely been exported as unrefined doré. Sankofa Insight — A refinery alone is not enough to guarantee sovereignty over a resource: it also requires control over marketing channels. Furthermore, Burkina Faso remains tied to the FCFA, a currency whose parameters it does not solely determine.