Ethiopia’s National Precious Metals Refinery Set to Process Over 600 Tonnes Annually, Target Regional Hub Status

Addis Ababa, October 10, 2026 (FMC) — Ethiopia’s National Precious Metals Refinery at Bole Lemi Special Economic Zone is set to strengthen domestic value addition, expand industrial capacity, and support the country’s ambition to become a regional hub for precious-metals refining and manufacturing, the Office of the Prime Minister of Ethiopia said.

Established through a partnership between Ethiopian Investment Holdings (EIH) and international investor Sam Precious Metals, the refinery is designed to process more than 600 tonnes of precious metals annually at full capacity.

The facility will assay, refine, and cast gold into export-ready bullion, while also producing cast and minted gold and silver bars in various purities, according to the Office.

The refinery is intended to strengthen the connection between Ethiopia’s natural resources and domestic industrial production, enabling the country to retain greater value from its mineral wealth. Mining remains a priority productive sector of the economy, with gold delivering significant results.

Beyond processing, the facility is expected to help position Ethiopia as a regional centre for precious-metals refining and manufacturing by enhancing transparency, quality assurance, and confidence in gold valuation.

The initiative reflects the Medemer Government’s commitment to moving beyond resource extraction toward domestic processing and manufacturing, while expanding Ethiopia’s industrial capabilities and opportunities in regional and international markets, the Office said.