Zambia has joined a growing number of African countries investing in local gold refining as governments seek to retain more value from their mineral resources and reduce dependence on overseas processing.
The country’s new gold refinery, developed by Minera Refineries Zambia Limited, is designed to process gold to purity levels of between 99% and 99.99%, according to information released by the company.
The development is expected to support local mineral processing, improve gold trading transparency and create opportunities for the mining sector.
The move comes as several African countries increase efforts to process their gold domestically rather than export it in less-refined forms.
Burkina Faso inaugurated its first gold refinery in September, while Ethiopia launched a $50 million precious metals refinery in October.
For Zambia, the investment offers an opportunity to expand beyond its traditional dependence on copper exports.
Copper remains the country’s dominant mineral export, while gold contributes a smaller share of export earnings.
By developing local refining capacity, Zambia could earn additional revenue from processing services, strengthen its gold supply chain and create jobs in related industries.
The facility could also support efforts to bring small-scale and artisanal miners into more formal trading channels.
However, the refinery’s long-term impact will depend on its ability to secure reliable supplies of gold, attract buyers and maintain internationally recognised quality standards.
Establishing a refinery alone does not guarantee higher export earnings or significant job creation.
Across Africa, the push for domestic refining reflects a broader economic ambition: ensuring that mineral-rich countries benefit from more than the extraction of resources.
Local processing can generate additional business opportunities, build technical expertise and encourage investment in industries connected to mining.
Zambia’s latest development adds to this continental shift, although its success will ultimately depend on how effectively the country converts its mineral wealth into sustainable economic benefits.
Source: CediRates – Africa’s gold refining expansion
