In Burkina Faso, the government of Ibrahim Traoré has just adopted a series of revolutionary decrees concerning gold mining in the country.
The new measures were ratified during the Council of Ministers on December 18, 2024 under the chairmanship of Captain Ibrahim Traoré.
You should know that these new rules really considerably strengthen state control over the mining sector.
At the heart of this reform is the creation of a national gold reserve, an unprecedented initiative which will notably force mining companies to pay their dividends in physical gold rather than in foreign currency.
This provision on gold exploitation is accompanied by an expanded right of pre-emption allowing the authorities of Burkina Faso to intervene as a priority during the transfer of mining titles and equipment.
Control of gold production is also reinforced with the establishment of a systematic presence of representatives of the administration during casting operations.
Companies will now be required to submit samples to Burkina’s Bureau of Mines and Geology within 72 hours, ensuring increased transparency of extraction activities.
Local communities are not forgotten in this reform. A new compensation system more favorable to populations affected by mining activities has been adopted, including the possibility of choosing between compensation in kind or in cash.
The establishment of monitoring committees at the municipal level, rather than by mining company, should allow better protection of local interests.
Regulations regarding the possession of gold have also been relaxed, with a doubling of the maximum authorized quantity, from 500 to 1000 grams.
However, this liberalization is accompanied by strict supervision, with the obligation to carry out transactions only with approved public bodies.
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