Ethiopia Launches Its First Gold Refinery

The Ethiopian government has launched the country's first gold refining plant, with this step aimed at ensuring the country gains added value from its natural resources, instead of exporting unrefined gold abroad.

This plant was inaugurated on October 10, 2026, and its opening was announced by the Prime Minister of Ethiopia, Abiy Ahmed. The project, which was funded with 50 million dollars, was built through a partnership between the Ethiopian government's investment agency and Sam Precious Metals.

According to the Ethiopian News Agency (ENA), the plant has the capacity to process more than 600 tons of precious metals annually, and it is expected to contribute to the growth of the mining industry, increase export revenue, and create skilled jobs.

Prime Minister Abiy Ahmed stated that the plant will not only serve the gold extracted from Ethiopia but can also attract gold from neighboring countries and regional mining companies, which can bring it to the country for refining, quality testing, and verification of its origin.

The Ethiopian government is also hoping that this center will transform the country into a regional hub for refining and marketing gold, which could reduce the need to export minerals to countries outside the African continent.

Gold is one of the major sources of foreign currency for Ethiopia. As reported by Reuters, gold exports brought the country 5.6 billion dollars last year, according to government data.

The action of Ethiopia is part of a growing trend in African countries, which seek to refine gold within their borders, in order to increase the economic benefits derived from their resources.

Burkina Faso, Mali, and Côte d’Ivoire have also taken or announced steps related to the construction of gold refining facilities.