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Burkina Faso has revised its mining code to enable it to take more in royalties in boom times after gold production fell.
Gold output in one of Africa’s biggest producers dropped 13% to 58.2 tons in 2022, according to government data. At least five mines closed down amid deteriorating security followed by two coups that year. A spokesperson for Endeavour Mining Plc, Burkina Faso’s largest gold producer, declined to comment. Miners in the country, including Iamgold Corp. and Nord Gold SE, are faced with a constantly volatile security situation as the ruling junta battles a mounting Islamist insurgency. Military leader Colonel Ibrahim Traore came to power in September 2022 after toppling the regime of fellow soldier Colonel Paul-Henri Sandaogo Damiba, who seized power in January of the same year.
France Dernières Nouvelles, France Actualités
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