Ouagadougou:The President of Faso, Captain Ibrahim Traor, announced that gold extracted in Burkina Faso must now be processed and certified within the country. This statement was made during the inauguration of RAFFINOR-BF, Burkina Faso's first gold refinery.

According to Burkina Information Agency, Captain Traor emphasized that simply extracting and exporting raw resources is insufficient for the country's development. He stated that locally refining gold will generate more wealth, create skilled jobs, and improve traceability and control over financial flows, helping to combat fraud and illicit trade.

The RAFFINOR-BF facility, located on a five-hectare site in Ouaga 2000, was developed with an investment of 11 billion FCFA. The refinery has an initial capacity to refine 164 tonnes of gold annually and features a smelter, analytical laboratory, secure storage, and a jewelry unit. It is funded by the State, the National Society of Precious Substances of Burkina Faso (SONASP), and private partners. Future plans include a second facility to increase capacity to 515 tonnes per year.

President Traor also highlighted the broader implications of this initiative, aiming to elevate Burkina Faso's position in the gold value chain and retain more benefits within the country. He stressed the importance of natural resources contributing to the improvement of living conditions while upholding environmental and social justice standards.

He urged the refinery's management to adhere to international standards of rigor, transparency, and integrity, to gain the trust of producers, buyers, and financial institutions. Traor concluded by expressing his vision for Burkina Faso to transform its resources, develop local skills, and pioneer new industrial pathways in Africa.