Africa seeks to increase local gold refining capacity

Africa accounts for nearly one-quarter of global gold extraction, yet the continent only refines approximately one-tenth of the metal it produces. Most gold is exported in its raw state, meaning the significant value added during the refining process is captured by industries outside of Africa.

There is a growing movement across the continent to increase local processing capabilities. By transforming raw ore into refined metal on-site, African nations aim to retain more economic wealth and industrial value within their own borders.