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Ethiopia has launched a National Precious Metals Refinery at the Bole Lemi Special Economic Zone, in a push to process more of its mineral resources within the country instead of relying mainly on extraction and exports
Ethiopia has launched a National Precious Metals Refinery at the Bole Lemi Special Economic Zone, in a push to process more of its mineral resources within the country instead of relying mainly on extraction and exports.
Prime Minister Abiy Ahmed announced the launch, saying the facility would help strengthen the country’s mining sector, increase export earnings and position Ethiopia as a regional centre for precious-metals refining.
The refinery has been established through a partnership between Ethiopian Investment Holdings (EIH) and international investor Sam Precious Metals.
According to the Ethiopian government, it will have the capacity to process more than 600 tonnes of precious metals annually when operating at full capacity.
The facility is designed to test the purity of gold, refine it and cast it into bullion that is ready for export. It will also produce cast and minted gold and silver bars in different levels of purity.
Ethiopia looks to add value to its mineral resources
By processing precious metals locally, Ethiopia aims to retain a greater share of the value generated from its mineral wealth.
Gold has become an important contributor to the country’s mining sector, according to the Prime Minister’s Office.
More from WorldThe new refinery is expected to support the development of a more organised gold supply chain, while improving transparency and confidence in the valuation and quality of precious metals.
Abiy said that the project would also help create skilled jobs and support the jewellery industry, alongside improving the country’s export potential.
Push to become a regional refining hub
The Ethiopian government has described the refinery as a step towards establishing the country as a regional hub for precious-metals refining and manufacturing.
The facility is intended to connect the country’s mineral resources with domestic processing and manufacturing capabilities, allowing Ethiopia to participate in more stages of the precious-metals value chain.
The government said that the project forms part of its broader industrial development ambitions under the Medemer policy approach.
Its stated goal is to turn natural resources into higher-value products, strengthen industrial capacity and expand opportunities in regional and international markets.
