Zambia has opened its first gold refinery, a facility capable of refining the precious metal to 99 per cent purity, as the country seeks to increase the value of its gold production, formalise small-scale mining and diversify export earnings.

The new facility is expected to help Zambia capture more value from its gold resources by processing the metal locally instead of exporting it in raw form. The initiative also aims to bring more small-scale miners into the formal economy, improve transparency in gold trading and strengthen the contribution of the mining sector to national development.

Officials are targeting more than $1.8 billion in economic value from the gold sector, highlighting the government’s ambition to expand production and improve the industry’s contribution to the country’s economy.

Zambia currently produces approximately 3.5 tonnes of gold annually, leaving significant room for growth as the country seeks to strengthen its position in the precious metals market.

The refinery’s ability to process gold to 99 per cent purity could help improve the quality and marketability of locally processed gold, potentially creating opportunities for better returns from domestic production. By refining gold within the country,

Zambia hopes to retain a greater share of the value generated along the mining supply chain. Local processing can also support employment, develop technical expertise and stimulate related businesses.

The project forms part of broader efforts to reduce the country’s dependence on copper, which accounts for approximately 70 per cent of Zambia’s export earnings.

Although copper remains a major source of foreign exchange, diversifying exports has become increasingly important as the government seeks to strengthen economic resilience and reduce exposure to fluctuations in global commodity prices.

Gold offers another potential source of export revenue, particularly if production increases and more miners participate in regulated trading channels.

Integrating small-scale miners into the formal system could also improve oversight of gold production and trading while helping authorities collect revenue and establish clearer records of the country’s mineral output.

However, the refinery’s long-term success will depend on securing a reliable supply of gold, maintaining international quality standards and ensuring transparent purchasing arrangements for small-scale miners.

Effective regulation and responsible mining practices will also be important in ensuring that the expansion of gold processing delivers sustainable economic benefits.

Zambia’s first gold refinery therefore represents a significant step towards strengthening domestic mineral processing, broadening export earnings and retaining more economic value from the country’s natural resources.