Ethiopia inaugurated its National Precious Metals Refinery on October 10, 2026, at the Bole Lemi Special Economic Zone in Addis Ababa. Prime Minister Abiy Ahmed announced the launch as the country expands its domestic mineral-processing capacity.
The US$50 million facility is a joint venture between state-owned Ethiopian Investment Holdings (EIH) and international partner Sam Precious Metals. It is designed to process more than 600 tonnes of precious metals annually at full capacity.
The refinery will assay, refine and cast gold into export-ready bullion. It will also produce cast and minted gold and silver bars in different purities. Other services include melting, testing and die-making.
The facility is intended to serve domestic producers and regional customers. By providing refining and quality-assessment services locally, it could reduce the need for mining companies to send precious metals to overseas processing centres.
Gold exports remain a major source of foreign exchange for Ethiopia. Government data cited by Reuters put earnings from gold exports at US$5.6 billion in the preceding year. The figure underlines the importance of the sector to the country’s export economy.
The refinery forms part of Ethiopia’s effort to move beyond mineral extraction towards processing and manufacturing. Its capacity could support regional trade in refined precious metals, although its commercial performance will depend on supply volumes and demand from mining companies.
The government has identified the facility as a step towards establishing Ethiopia as a regional centre for precious-metals refining and manufacturing.
