Ibrahim Traore, the leader of the junta in Burkina Faso, has stated that the West African country intends to take back mining permissions from certain international businesses, and will work to produce more of its gold. He did not specify which permits might be revoked.
“We know how to mine our gold and I don’t understand why we’re going to let multinationals come and mine it,” Traore declared in a radio speech commemorating the passing of two years since his revolution.
“We are going to withdraw mining permits,” he said. He did not specify which permits or provide further detail.
The nation in West Africa, where a protracted security crisis contributed to the junta’s ascent to power in 2022, exports mostly gold. It has now broken long-standing relationships with Western friends to forge stronger ties with Russia.
Burkina Faso is home to operations of Canada’s Orezone Gold Corporation, Russia’s Nordgold, Australia’s West African Resources, and London-listed Endeavour Mining.
Growing insecurity has complicated operations. A U.S.-based crisis-monitoring group called ACLED claims that more than 8,000 people were killed in the country in 2023, despite the junta’s pledge to control factions associated with the Islamic State and Al Qaeda.
Since the early 2000s, Burkina Faso has seen a rise in the mining industry, mostly in the gold but also in the zinc and manganese sectors. The nation currently ranks as Africa’s fifth-largest producer of gold.
