Burkina grants the exploitation of a gold mine to the Russians of Nordgold

Burkina grants the exploitation of a gold mine to the

The Burkinabè transitional government has granted a license to operate a new gold mine to the Russian company Nordgold, according to a report by the Council of Ministers published on Thursday 8 December. The forecast the production of more than 2.5 tons of gold and revenues of 5.3 billion CFA francs (8.1 million euros) over four years. In a sector that weighs more than 10% of the country’s wealth, Ouagadougou wishes to show that it is diversifying its partners.

After the announcement last week of the launch of production at the Bomboré site, entrusted to the Canadian group Orezone, it is the turn Nordgold Russians to be granted a deposit.

Over four years, the government estimates that the Yimiougou site in the commune of Korsimoro should produce 2.53 tonnes of gold. Over this same period, it should generate 5.3 billion CFA francs for the State and an additional 648 million francs (i.e. 1 million euros) supposed to top up the mining fund for local development.

Already present on three sites in the country through its subsidiaries, the Russian group Nordgold is repositioning itself as since April, he had to stop the activity of the Taparko site for security reasons: in this region of the Center-North, attacks by jihadist groups are on the increasethreatening theextractive industries activity.

The announcement of new deposits is a boon for the company: in 2022, no less than 6 mines had to close in the country. As a result, Burkina Faso could produce 13% less gold this year compared to 2021, according to government statistics. What reduce a major source of foreign exchange for the state and threaten thousands of jobs in the gold regions.

To listen also: Gold: Burkina Faso and its mining industry facing the challenge of terrorism

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