Gabon took a significant step towards economic diversification and value addition as it inaugurated its first gold refinery, marking a milestone in the country’s mining sector.
The Gabonese Gold Refinery (ROG), a joint venture between Equatorial Mining Company (SEM) and Alpha Centauri Mining (ACM), commenced operations on June 2. President Ali Bongo Ondimba officially commissioned the plant, which boasts a refining capacity of 7 to 10 tons of gold annually.
President Bongo Ondimba expressed his enthusiasm for the refinery, highlighting its importance in transforming the economy and creating employment opportunities.
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By refining 100% of the country’s gold production, Gabon aims to position itself as a central hub for gold refining in the region. The facility will enable on-site processing, promoting local value addition and potentially facilitating the production of jewelry within Gabon.
The inauguration of the gold refinery could have further implications for Gabon’s gold industry. The government recently proposed a draft decree to prohibit the export of raw gold, compelling operators to refine the precious metal within the country’s borders. Previously, due to the absence of a refinery, Gabon exported its gold in its raw state.
Gabon currently produces approximately 2 tons of gold annually, with a significant portion derived from alluvial gold processing. Looking ahead, the country aspires to increase production, aiming to establish a strategic gold reserve to enhance its credibility in foreign markets.
The gold refinery represents a pivotal development in Gabon’s mining landscape, heralding a new era of economic growth, job creation, and domestic value addition.
With plans to refine all locally produced gold and foster jewelry manufacturing, Gabon is poised to solidify its position as a prominent player in the gold industry within Central Africa.
