Ethiopia has opened the National Precious Metals Refinery at the Bole Lemi Special Economic Zone. The facility is a partnership between state-owned Ethiopian Investment Holdings and international investor Sam Precious Metals. The refinery marks a shift in Ethiopia's mining strategy, moving away from raw resource extraction towards domestic processing and high-value manufacturing.
Gold production remains one of Ethiopia's top economic priorities and has delivered strong export results in recent years. The new refinery reflects government policy aimed at linking local resource extraction with domestic refining capabilities. At full capacity, the facility will process more than 600 tonnes of precious metals annually, according to the source material. It will assay, refine and cast gold into export-ready bullion, and manufacture cast and minted gold and silver bars in various purities.
The refinery is designed to meet strict international standards and positions Ethiopia as a potential regional hub for precious-metals refining and manufacturing across East Africa. By providing standardized assaying and refining within the country, the initiative is intended to introduce greater transparency and quality assurance in gold valuation.
The facility reflects Ethiopia's broader aim to capture greater economic returns domestically. By retaining value within its borders and expanding industrial capabilities, the country aims to open new opportunities in international markets and build long-term economic resilience.