Ethiopia Inaugurates Gold Refinery with 600-Ton Annual Capacity

Ethiopia has inaugurated a state-of-the-art gold refinery in the Bole Lemi Special Economic Zone, capable of processing over 600 tons of precious metals annually. The project is a joint venture between the Ethiopian Investment Holdings (holding 51% share) and Sam Precious Metals of Dubai (holding 49%). Prime Minister Abiy Ahmed stated the facility aims to make Ethiopia a regional hub, noting that processing gold domestically will add significant value and increase export earnings. Officials estimate that at full capacity, the refinery could generate significant revenue, helping to address the country's foreign currency needs for essential imports like fuel and medicine. The refinery is part of broader efforts to boost local value addition for minerals.