Ethiopia has officially launched the National Precious Metals Refinery at the Bole Lemi Special Economic Zone. The landmark facility marks a decisive shift in Ethiopia’s mining strategy, transitioning the nation from relying on raw resource extraction to building robust domestic processing capabilities and high-value manufacturing.
Established through a strategic partnership between state-owned Ethiopian Investment Holdings (EIH) and international investor Sam Precious Metals, the refinery represents a significant step forward for the country’s productive capacity. Mining—and gold production in particular—remains one of Ethiopia’s top economic priorities, having delivered remarkable export results in recent years. This new joint venture directly reflects the Medemer Government’s policy commitment to linking local resource extraction with state-of-the-art domestic refining and sustainable value creation.
At full operational capacity, the facility will be capable of processing more than 600 tonnes of precious metals annually. Designed to meet strict international standards, the plant is equipped to assay, refine, and cast gold into export-ready bullion. Additionally, it will manufacture both cast and minted gold and silver bars in a wide range of purities, opening up diverse commercial avenues in global precious metals trading.
Beyond its immediate economic output, the refinery is structured to position Ethiopia as a dominant regional hub for precious-metals refining and manufacturing across East Africa. By providing standardized assaying and refining within the country, the initiative introduces unprecedented levels of transparency, quality assurance, and market confidence in gold valuation.
Ultimately, the National Precious Metals Refinery embodies Ethiopia’s broader ambition to capture greater economic returns at home. By retaining value within its borders, expanding domestic industrial capabilities, and opening new opportunities in international markets, Ethiopia is laying a firm foundation for long-term economic resilience and sustainable growth.
