By Hanad Abdi - Reporter
ADDIS ABABA, 11 October 2026 Ethiopia has opened a new precious metals refinery, with a focus on gold, as the government seeks to increase domestic mineral processing and boost export earnings.
Ethiopian Prime Minister Abiy Ahmed announced the launch of the National Precious Metals Refinery on Saturday, 10 October. Located in the Bole Lemi Special Economic Zone, the facility was established through a partnership between Ethiopian Investment Holdings (EIH) and Sam Precious Metals.
Abiy said the refinery has the capacity to process more than 600 tonnes of precious metals annually. He described the facility as a major step towards developing Ethiopia’s mining sector, expanding domestic value addition and positioning the country as a regional hub for precious metals refining.
The refinery is also designed to provide internationally recognised refining and testing services to mining companies across the region. Under the project, neighbouring countries and regional mining firms will be able to send gold to Ethiopia for refining, quality certification and further processing before it is sold.
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The facility aims to enable gold and other precious metals extracted in the region to be processed within Africa rather than exported to other continents for refining.
Abiy said the project reflects the government’s policy of linking natural resources with domestic industrial capacity. He added that the initiative aims to increase export earnings, create skilled jobs and support the jewellery industry.
The opening comes as Ethiopia seeks to retain more of the economic value generated by its natural resources by expanding domestic processing before minerals are exported to international markets.