Mining

Burkina Faso: New Kiaka Gold Mine to Start Production in 2025

Burkina Faso: New Kiaka Gold Mine to Start Production in 2025
Thursday, 04 July 2024 13:29

Burkina Faso is set to have a new active gold mine next year, the Kiaka mine. The project’s owner, West African Resources, recently upscaled its expected output for the mine.

A new gold mine in Burkina Faso, with an annual production capacity of 234,000 ounces, will start operations in the third quarter of 2025. West African Resources confirmed that its Kiaka mine (currently 50% developed), can deliver up to 258,000 ounces of gold annually over the first five years of activity.

West African Resources disclosed the update in a recently published feasibility study. Initially, the company expected that the combined output of its two mines in Burkina Faso would peak at 473,000 ounces (224,000 ounces for Kiaka) in 2029. 

"We now expect to produce more than 4.2 million ounces over the next decade, with a peak of 494,000 ounces in 2030," said CEO Richard Hyde.

The Kiaka mine is expected to generate $3.4 billion in pre-tax free cash flow according to the new study, making West African Resources a multi-asset gold producer. The company also operates the Sanbrado mine in Burkina Faso, which is projected to deliver between 190,000 and 210,000 ounces in 2024.

After Ghana and Mali, Burkina Faso is among Africa’s top gold producers. According to EITI data, the country’s mining sector, dominated by gold, accounted for 14.34% and 79% of its GDP and exports, respectively, in 2021. 

Kiaka’s launch is good news for the Burkinabe economy, especially with gold prices going up in recent months (over $2,300 per ounce now).  

Louis-Nino Kansoun

 

On the same topic
Chinese firm Dowstone Technology to invest $165 million in a new copper smelter in the DRC. China imported 36% of its copper from the DRC in...
• Twiga Minerals contributed $558 million to Tanzania’s economy in H1 2025, 62% of its 2024 total.• The joint venture pays significant taxes...
• TotalEnergies to start production at offshore Ima gas project in 2026• Output will support LNG supply but broader sector issues persist• Infrastructure...
• Guinea exported 99.8 million tons of bauxite in H1 2025, nearly reaching 2022’s full-year total• Exports rose 36% year-on-year as the country...
Most Read
01

• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...

Coffee: Global Consumption Expected to Reach Record Level in 2025/2026
02

• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo...

Algeria Awards Commercial 5G Licenses
03

• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...

Afreximbank Bonds Retain Market Confidence Despite Moody’s Downgrade
04

• Kenyan President William Ruto signs strategic partnership with UK Prime Minister Keir Starmer to b...

William Ruto in London: New Agreement Aims to Double Kenya-UK Trade by 2030
05

• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector cou...

IFC Plans Investment Fund to Help Grow African Film Industry
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.