Ethiopia has announced the launch of a $50 million gold refining facility aimed at enhancing regional processing capabilities and reducing reliance on foreign refineries. The project, located in the capital Addis Ababa, is expected to begin operations by the end of 2026. It will process gold from local and regional sources, with a focus on improving efficiency and sustainability in the sector.
The facility is part of Ethiopia’s broader strategy to position itself as a key player in Africa’s gold refining industry. According to government officials, the project will create over 1,200 jobs during construction and an additional 300 permanent positions once operational. It will also contribute to the country’s goal of increasing gold exports by 20% over the next five years.
Ethiopia has been one of Africa’s largest gold producers for several years, with output exceeding 100 tons annually. However, much of the country’s gold has traditionally been exported in raw form, with refining done abroad. This new facility aims to change that by enabling local processing and value addition. The initiative aligns with regional efforts to develop a more integrated and competitive gold industry across the continent.
