The Burkina Faso government has announced plans to nationalize additional industrial mines of foreign property as part of a broader strategy to ensure most of the income of its natural resources. This movement is aligned with consumption efforts to reform the country’s mining sector and reinforce its economy, which has been beaten by persistent insecurity.
In a televised speech on Monday night, Burkina Faso Prime Minister Jean Emmanuel Ouédraogo described the government’s intention to expand state control over nations mining assets. “The government plans to extend its control over our resources,” Ouédraogo declared. He highlighted the success of the newly established state mining company, Société de Partencation Minière du Burkina (sopamib), which has tasks of two industrial gold mines and wahgnion and provision. The acquisition was final at the end of last year in an agreement valued at approximately $ 80 million, a significant discount of the $ 300 million initially of egg for Endeavour mining.
Ouédraogo emphasized the achievements of state -controlled mining initiatives, noting that the National Company for Precious Substances collected approximately 8 tons of gold in 2024 and 11 additional tons in the first quarter of 2025. “For the first time in our history, the government is working to establish a national gold reserve”, “ He said, adding, “We must see more benefits of mining in Burkina Faso, not only the consequences assumed by our people”. According to Reuters, “Sopamib has already recovered two industrial mines, in particular Boungou and Wahgnion, and this continuously”, “,” Hey said.
Burkina Faso, like its neighbors Mali and Niger, began reviewing their mining code in 2023 to prioritize national interests. The new legislation emphasizes the use of local experience and suppliers, with the aim of creating a “Revolution in how we manage our mineral wealth” In accordance with government statements. The reforms have raised Conerns among foreign investors, who fear reduced access to the fixed gold reserves of the countries. However, the Government argues that thesis changes are essential to increase income and relive an economy woven by security challenges.
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In 2023, Burkina Faso produced more than 57 tons of gold, which makes it one of the best gold producers in Africa. The impulse of the government for nationalization follows a trend in the region, with countries like Mali and Niger also move to affirm greater control over their natural resources. The Burkina Faso approach reflects a growing desire in Western Africa of renegotiating resource extraction terms to benefit local economies, Said Dr. Kwame Asiedu, an expert in African political economy at the University of Ghana.
According to weekly mining, last week, Burkina Faso granted an industrial mining license to the Russian mining company Nordgold for a gold project in the province of Kourweago, located in the region of the Plateau-Centro. This decision has caused a debate, since the government has moved simultaneously to restrict foreign participation in mining. President Ibrahim Traoré has expressed intentions to limit foreign mining operations, with exceptions for Russian companies. Nationalization efforts have also included the construction of a state gold refinery, with Burkina Faso revealing its first gold bars produced in the country in December 2024. “This is a significant step towards economic sovereignty,” Saint traoré.
While the Government considers that nationalization is a path to economic empowerment, some analysts warn about potential risks. “The strictest state control could dissuade foreign investment, which has been fundamental to developing Burkina Faso’s mining sector”, He warned a 2025 Bloomberg report on global economic trends. The report pointed out that investor confidence has been shaken by the rapid rhythm of the reforms, he thought that the government insists that the changes will lead to long -term stability.
Local communities, often affected by the environmental and social costs of mining, have expressed mixed feelings. “We want the wealth of our land to stay here, but we also need jobs and security.” Amsata Diallo said, community leader in northern Burkina Faso, in an interview with Al Jazeera. She highlighted the need for the government to balance economic profits with social protections.
Burkina Faso’s nationalization plans are part of a broader regional change towards the superity of resources, as evidenced by discussions between Mali, Niger and Burkina Faso to create a shared currency to replace CFA Franc, a remaining French colonial. These efforts aim to reduce the economic dependence of external powers and promote regional integration.
As Burkina Faso continues to remodel its mining sector, the international community will closely observe how the Government balances its ambitious reforms with the need to maintain economic stability and investor confidence. For now, the country remains committed to its vision of a mining industry that prioritizes national interests and offers tangible benefits to its people.
