Across Burkina Faso and neighboring gold-producing nations, the vast majority of artisanal mining output avoids formal channels, depriving governments of billions and undermining regional security.
Burkina Faso's Minister of Energy, Mines and Quarries, Yacouba Gouba, has announced an immediate suspension of gold and other precious metals exports from artisanal and semi-mechanized mines, according to a press release issued February 20.
The action aims to "clean up the sector and better organize the marketing of gold and precious substances," the statement said. Miners can sell their production during the suspension period to the state-owned Société Nationale des Substances Précieuses (SONASP), though the selling price remains unclear.
Burkina Faso faces a significant challenge with unregulated artisanal gold production, mirroring a regional trend. In 2019, then-Minister of Mines Oumarou Idani told Reuters only 200-400 kg of the estimated 9.5 tons of annual artisanal gold output was declared officially.
Beyond lost tax revenue, illicit gold exports fuel insecurity in Burkina Faso and the wider Sahel region. A February 7 report by the Economic Community of West African States (ECOWAS) highlights the involvement of armed groups in the Sahel region, who either tax or directly engage in artisanal gold mining activities. To combat this, the report advocates for formalizing artisanal and small-scale mining across the region. Proposed solutions include establishing cooperatives for miners to share resources and creating designated gold mining zones.
Emiliano Tossou
Togo parliament adopts WAEMU law against currency counterfeiting Bill defines offences including ...
Since its 2019 IPO, Airtel Africa paid Deloitte over $37 million in audit and non-audit fees,...
CCR-UEMOA presents mid-term review of private sector competitiveness efforts Reforms, AfCFTA trai...
World Bank announces $137 million to boost West Africa digital economy Program expands broad...
Tilenga oil project required land from 4,954 households in Uganda Over 99% of affected households...
Mali and Orange Mali plan a partnership to accelerate the digital transformation of universities. The initiative focuses on connectivity,...
Gabon inaugurates a new border post in Kabala to improve trade and mobility with Republic of the Congo. The project supports regional integration...
Zamani Telecom calls for a more favorable investment codeto support infrastructure spending and market competitiveness. The operator’s annual...
Shell forecasts global LNG demand growth of at least 54% by 2040, reaching up to 710 million tonnes annually. Developing markets, especially in...
Afreximbank launches Impact Stories season two highlighting trade-driven transformations Series features projects across Africa and Caribbean, from...
Mbanza Kongo, located in northern Angola, is one of the most important historic cities in Central Africa. The capital of Zaire Province, it stands on a...