Burkina Faso’s junta leader opens major gold refinery to keep mining profits at home
Burkina Faso has opened its first gold refinery as the military-led government seeks to process more of the country's mineral wealth at home and tighten its control over one of its most important industries.
Burkina Faso inaugurated its first gold refinery in Ouagadougou on Monday, as part of efforts by the military-led government to process more of the country's mineral wealth domestically. Junta leader Ibrahim Traoré stated the refinery's aim to reduce reliance on exporting raw materials and tighten control over the mining industry.
The facility, called Raffinor-BF, cost over 11 billion CFA francs ($19 million) and is expected to initially refine 164 tonnes of gold per year, with potential expansion to 515 tonnes. Currently, Burkina Faso is one of Africa's leading gold producers, but the government has struggled to regulate the informal mining sector, which has faced challenges from smuggling and informal trading, potentially aiding the Islamist insurgency.
Since the September 2022 coup, Traoré's government has increased state involvement in the mining sector and sought greater control of strategic industries. The refinery is part of a broader campaign to process commodities domestically, alongside investments in cotton, textiles, and food processing.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
