Burkina Faso is pushing forward with its strategy to regain control over its gold resources. On Monday evening, Prime Minister Rimtalba Jean Emmanuel Ouédraogo announced on national television the government’s intention to acquire new industrial gold mines, which are currently dominated by foreign companies, notably Canadian and Australian. “The Burkina Mining Holdings Company has already purchased the Boungou and Wahgnion mines in 2024, and this policy will continue”, he stated, emphasizing the goal of maximizing economic benefits for the country.
This approach aligns with the vision of President Ibrahim Traoré, who came to power in 2022 and advocates for mining nationalism and greater wealth redistribution. In October 2024, he criticized the dominance of multinational companies over Burkina Faso’s gold sector, asserting that the country should manage this resource itself. However, no official negotiations have yet been concluded with the mining companies currently in operation.
Some companies, such as Canadian-owned Orezone (which owns the Bomboré mine), have sought to reassure stakeholders, clarifying that the government is only targeting operators who are not in compliance with regulations. At the same time, the state is focusing on artisanal and semi-mechanized gold mining to boost its revenues. The National Precious Substances Company (SONASP) collected over 8 tons of gold in 2024, and already more than 11 tons in the first quarter of 2025 – a record praised by the Prime Minister.
This mining policy, which combines gradual buybacks with local exploitation, reflects the regime’s desire to strengthen Burkina Faso’s economic sovereignty, despite security challenges and the reluctance of foreign investors.
