On 10 October 2026, Ethiopia inaugurated the National Precious Metals Refinery in the Bole Lemi Special Economic Zone in Addis Ababa. The refinery was established through a partnership between Ethiopian Investment Holdings and SAM Precious Metals, headquartered in Dubai.
The refinery, located in the Bole Lemi Special Economic Zone, has the capacity to process more than 600 tonnes of precious metals annually at full capacity. It is designed to test the purity of gold, refine it and cast it into export-ready bars, in addition to producing gold and silver bars.
According to Prime Minister Abiy Ahmed Ali, the project will strengthen local value addition, support the mining sector and exports, create skilled jobs, boost the jewellery industry, and help position Ethiopia as a regional hub for precious metals refining, with a more transparent and competitive gold value chain.