• Burkina Faso reassures investors amid new mining code concerns
• Guinea promotes Simandou project as economic transformation driver
• Mixed signals on West Africa’s mining climate at Perth conference

Messages about the business climate in West Africa were mixed at the Africa Down Under 2025 conference, an annual event in Perth that connects Australian mining companies with leaders from African nations. Burkina Faso sought to reassure investors amid new mining laws, while Guinea used the platform to present its massive Simandou iron ore deposit as a driver of economic transformation.

Mamadou Sagnon, director-general of Burkina Faso’s mining registry, clarified that a recent request for a larger state stake in the Kiaka gold mine was not a mandate but an option available under the country’s 2024 mining code. The new code raises the state's free, non-dilutable stake to 15% and establishes a mandatory priority dividend, fueling investor concerns of a nationalist shift similar to one seen in neighboring Mali.

Mali's 2023 reforms increased the state and local investor share to 35%, a rule that has been applied to several gold projects under development and two new lithium mines. Despite this, Canadian-owned Orezone Gold, which operates the Bomboré mine, stated in a September 2 release that the Burkinabe government has no intention of acquiring stakes in all projects.

In contrast to Mali and Burkina Faso, the business climate in Guinea is largely viewed as positive, attracting growing investments in gold and iron ore. Guinea's Minister of Planning, Ismael Nabe, presented the Simandou 2040 program, a plan to leverage the world's largest untapped iron ore deposit as a catalyst for sustainable development.

With an estimated $20 billion in railway, port, and energy infrastructure, the project was described by Nabe as a "United Nations project" due to its multi-national partners from China, the United States, Australia, and Guinea. Nabe announced that 25% of the project's revenues would be dedicated to educating young Guineans abroad, adding that his country is "perhaps the most Australian country in Africa" given its rich mining and agricultural resources.

Emiliano Tossou