Burkina Faso: Captain Ibrahim TRAORE is keen to restructure the mining sector

Since coming to power in September 2022, the President of the transition, Captain Ibrahim TRAORE, has shown an interest in reorganising the mining sector, the lifeblood of Burkina Faso’s economy. He has essentially focused his attention on the text governing the exploitation, processing and marketing of Burkina Faso’s minerals so that they benefit both the State and the population.

After the adoption on Wednesday 06 September 2023 of the draft decree to improve the employment of nationals in the mines, the Council of Ministers meeting on Wednesday 13 September, chaired by His Excellency Captain Ibrahim TRAORE, set about examining, amending and adopting the provisions of 2017 relating to the setting of mining taxes and royalties.

According to Simon-Pierre BOUSSIM, the Minister in charge of mines, this amendment mainly concerns article 14 of the decree approved by the council and relates in particular to the revaluation or increase in the rate of taxation. This rate is set according to the level of international gold prices, which are currently on the rise. It also takes into account manganese, zinc and silver.

The other equally important draft mining sector decree adopted by the Council of Ministers concerns local content. According to the minister in charge of mines, this is a legal framework that defines the conditions for subcontracting, co-contracting and the supply of goods and services in the mining sector.

This bill, which takes into account the transfer of competences, also provides a framework for the participation of nationals in structures operating in the processing, upgrading and marketing of mining products and residues.

Adama Konaté