Mining

Burkina Faso: Government to end the agreement with Pan African Minerals on Tambao manganese mine

Thursday, 12 April 2018 15:52

(Ecofin Agency) - Burkina Faso plans to end the agreement with Pan African Minerals (PAM) on Tambao mine, Bloomberg reports.

Oumarou Idani (photo), the Burkinabe mine minister declared on national TV yesterday April 11, that the state will give a 90 days notice to the company headed by Frank Timis, to end the agreement. He also indicated that the company has failed to construct the rail and road infrastructure included in the contract.

Indeed, while the company’s lawsuit against the State is still pending at the International Court of Arbitration, this declaration from the minister appears as another sign of a definitive breach of trust between both sides.

Let’s recall that last February, the minister said the government was seeking a new partner to operate the mine, and according to recent comments, there would be many interested companies.

Tambao mine would house more than 100 million tons of ore and is expected to produce 3 million tons per year.

 
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