Burkina Faso: Under the leadership of Captain Ibrahim Traoré, President of Burkina Faso, the state increases its stake in the Kiaka gold mine to 40%

The government of Burkina Faso, under the leadership of Captain Ibrahim Traoré, President of Faso, is taking a new step in its strategy to regain control over natural resources. During the Council of Ministers on Thursday, February 19, it announced an additional 25% stake acquisition in the company operating the Kiaka gold mine, a subsidiary of the Australian group West African Resources (WAF). The State now holds 40% of the capital of this major gold project.

This decision goes beyond a simple financial transaction. It illustrates the progressive evolution of Burkinabe mining doctrine: capturing a larger share of gold revenue while maintaining the presence of international operators capable of providing financing and technical expertise.

A delicate but necessary balance to maximize national benefits without killing the goose that lays the golden eggs.

Located approximately 110 kilometres southeast of Ouagadougou, the Kiaka mine produced its first gold bar in June 2025 and is already establishing itself as a pillar of national gold potential.

The deposit has estimated reserves of 4.8 million ounces of gold, nearly 136 tonnes, placing the site among the most significant mining assets in Burkina Faso.

This increase in the State’s stake in Kiaka is part of a broader trend observed in several African countries.

More and more governments are seeking to renegotiate the terms of mining agreements inherited from the past to secure a fairer share of the wealth extracted from their subsoil.

For Burkina Faso, a country facing significant security and development challenges, every percentage point gained in mining operations counts. These additional resources can be reinvested in public services, infrastructure, and the fight against poverty, provided that management is transparent and effective.

Fanta KEITA