New Gold Refinery in Ethiopia with 600-Ton Annual Capacity Inaugurated

Ethiopia has inaugurated a modern gold refinery in the Bole Lemi Industrial Zone, capable of processing over 600 tons of precious metals annually. The project is a joint venture between the Ethiopian Investment Holdings and the Dubai-based Sham Precious Metals. Prime Minister Abiy Ahmed emphasized that the facility will allow Ethiopia to add value to its minerals rather than exporting raw ore. Officials project that at full capacity, the plant could generate significant revenue, potentially reaching $80 billion annually, bolstering the country's foreign currency reserves.