Prime Minister Abiy Ahmed opened Ethiopia’s national precious metals refinery in the Bole Lemi industrial zone of Addis Ababa on 10 October. The plant, 51% owned by state-owned Ethiopian Investment Holdings and 49% by Sam Precious Metals, can refine more than 600 tonnes of precious metals a year at full capacity, the government said. Gold earned Ethiopia about $5.5 billion in the 2025/26 fiscal year, about half of its export revenue, and has so far been refined in Dubai. Refining at home could capture more value and foreign currency, and Abiy wants the plant to serve miners from neighbouring countries as a regional hub.
Sources
- Agence Ecofin: https://www.ecofinagency.com/news-industry/1010-59634-ethiopia-opens-gold-refinery-to-process-more-gold-locally
- Fana: https://www.fanamc.com/english/ethiopias-national-precious-metals-refinery-set-to-process-over-600-tonnes-annually-target-regional-hub-status/
- Ethiopian News Agency: https://www.ena.et/web/eng/w/eng_9723055