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
EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projec...
M-PESA evolves into major financial platform with 35 million users Telecoms, fintechs expan...
Algeria launches bid for two NGSO satellite telecom licenses Move aims to expand broadband ac...
Coca-Cola unit trains 260+ SMEs in Namibia business skills Program targets women, youth, disabled...
Driven by above-average growth and rapidly expanding demographics, Francophone Africa is emerging as...
The EBRD considers a senior loan of up to $80 million for Scatec’s solar project in Egypt. The first phase includes a 500 MW solar plant...
Four major operators—Mauritel, Mattel, Rimatel, and Chinguitel—submitted a combined bid of $27 million for 5G spectrum. Mauritel led the...
Industry stakeholders signed a 10-year strategic accord to pivot from traditional sugar to high-value industrial products. The plan leverages a...
President Samia Suluhu Hassan launched 758 new towers and a fiber optic network to improve rural connectivity. The $48 million project...
French lawmakers approve colonial-era restitution framework unanimously Law enables returns by decree, replacing case-by-case...
Nosy Iranja is one of the most iconic island destinations in northwestern Madagascar, lying in the Mozambique Channel about an hour and a half by boat...