The Addis Ababa facility is designed to process gold and other precious metals for Ethiopia and regional markets.
Ethiopia has inaugurated its first national precious metals refinery, a $50 million joint venture that Prime Minister Abiy Ahmed says will help the country process more of its mineral wealth at home. The facility opened on Oct. 10 at the Bole Lemi Special Economic Zone in Addis Ababa.
The project brings together state-owned Ethiopian Investment Holdings and international partner Sam Precious Metals. The government says Ethiopia holds a 51% stake, with the partner owning the remaining 49%.
At full capacity, the refinery is expected to process more than 600 tonnes of precious metals annually. It will provide services including melting, testing, refining and casting, as well as producing gold and silver bars. The figure describes the facility’s capacity, not its current output.
Abiy has presented the refinery as part of a broader effort to move Ethiopia away from exporting raw materials and importing finished products. He said domestic processing could increase export earnings, create skilled jobs and support the jewelry industry.
Gold has become a major source of foreign currency for Ethiopia. Government data cited by Reuters show the country earned about $5.6 billion from gold exports last year. Ethiopia’s mining minister separately reported that companies and traditional miners produced 44 tonnes of gold during the 2025–26 fiscal year.
Abiy said the refinery could also attract gold from neighboring countries and regional mining companies. The government’s stated aim is to offer refining and certification services within Africa, allowing producers to sell processed bullion without sending it to markets outside the continent.
The announcement builds on a sharp recent rise in Ethiopia’s gold exports. The United Nations Development Programme reported that gold export value nearly doubled in the first half of 2026 compared with the same period a year earlier, while noting that artisanal miners account for much of the supply and large mining companies have struggled to meet production targets.
That supply picture will matter to the refinery’s success. Its nameplate capacity is substantial, but keeping it operating at scale will depend on the amount of gold and other metals available, as well as the facility’s ability to meet buyers’ quality and certification requirements. This is an inference based on the reported capacity and supply conditions.
Ethiopia’s government says the refinery could improve transparency and confidence in gold valuation by testing, certifying and processing the metal domestically. Abiy has also argued that raw gold can contain valuable by-products, including silver, that may otherwise be lost during processing.
For decades, Ethiopia exported gold without sufficient domestic capacity to refine it to international standards, according to the prime minister’s office. The new plant marks a move toward processing more of that resource at home, though its effect on exports, jobs and regional trade will depend on whether the refinery can attract a reliable supply and build a customer base.
