Ethiopia Unveils First Gold Refinery in Major Mining Initiative
Ethiopia launches first gold refinery, aiming to boost regional processing and domestic value addition. Prime Minister Abiy Ahmed announces $50M project.
POLICY WIRE — Addis Ababa, Ethiopia — Ethiopia has unveiled its first gold refinery, a $50 million joint venture designed to position the East African nation as a key player in regional precious metals processing, according to Prime Minister Abiy Ahmed.
The facility, located at the Bole Lemi Special Economic Zone, is a strategic collaboration between Ethiopian Investment Holdings (EIH) and Sam Precious Metals. It marks a significant shift in Ethiopia’s mining strategy, moving away from raw resource extraction toward building domestic refining capabilities and boosting economic returns from natural resources.
The refinery, which can process over 600 tonnes of precious metals annually, is expected to attract African gold producers and help retain more value within the country. Prime Minister Abiy Ahmed highlighted the project as a major step forward for Ethiopia’s mining sector, emphasizing its role in increasing domestic value addition and maximizing returns from the nation’s mineral wealth.
Reporting by Policy-Wire (PW)
