The Burkina Faso is preparing to fully exploit its gold potential in a context where gold production has declined in recent years, largely due to insecurity which has forced the closure of several mines. Currently, the majority of mining operations in the country are under the control of foreign companies, mainly Canadian and Australian. However, the Burkinabè government, under the leadership of the ccaptain Ibrahim Traoréwants to change this dynamic by directly exploiting the country’s vast gold reserves.
During a broadcast broadcast on radio national Last weekend, President Traoré expressed his desire to reduce the dominance of foreign multinationals in the mining sector, saying that Burkina Faso had the capacity to manage the extraction of its natural resources. Since coming to power in 2022, he has been particularly supportive of an increase in local content in extractive industries, with an emphasis on the country’s reappropriation of resources. « Tall gold mines are currently on our agenda. I don’t understand why we know how to mine gold and why we must therefore let multinationals come and mine our gold. We’ll do it ourselves« will say captain Ibrahim Traoré
This ambition is part of Burkina Faso’s broader desire to capture a greater share of revenues from the exploitation of gold, a crucial resource for the national economy. The recent tripartite agreement with Endeavour Mining et Lilium Mining shows the State’s commitment to reforming the sector, collaborating with partners while strengthening its role in the management of mineral wealth.
This strategy should, ultimately, allow the country to better benefit from its gold sector while stimulating local development and job creation, within a framework that favors national sovereignty over natural resources.
