Burkina Faso: President Ibrahim Traoré calls for national exploitation of its gold potential
Faced with a decline in gold production in recent years, primarily due to insecurity that forced the closure of several mining sites, Burkina Faso under Captain Ibrahim Traoré is preparing to revitalize its gold industry.
Once dominated by foreign companies, particularly from Canada and Australia, the country’s gold mining sector is on the verge of a significant transformation under the leadership of the current government.
Recognizing the vast gold reserves within its borders, the Burkinabe government now aims to take direct control of this vital resource. This marks a strategic shift, with the goal of increasing national economic benefits from mining operations.
In the past, foreign control of the mines limited the direct financial gains for the local economy, despite gold’s central role in Burkina Faso’s exports.
The MPSR government, led by Captain Traoré, seeks not only to boost production but also to enhance security in mining areas that remain vulnerable to ongoing threats.
By assuming direct management of the gold industry, Burkina Faso hopes to better safeguard its resources while strengthening its economic sovereignty.
This initiative is part of a broader strategy to diversify economic partnerships, with a focus on increasing the involvement of Burkinabè companies in the mining sector.
A revitalized national gold industry could not only stimulate the economy but also create jobs and contribute to long-term socio-economic stability in the country.
Olivier TOE
