Burkina Faso will intensify state involvement in its gold industry, President Ibrahim Traoré declared in a nationally broadcast interview on September 28.
‘The government’s approach is to exploit our gold ourselves,’ Traoré told local media. He said authorities had already assumed control of some mines and would continue either operating them directly or co-managing with private companies.
The president criticised past arrangements with multinational miners, arguing that they left too little benefit for Burkinabè citizens.
New mining code changes the rules
Traoré’s pledge follows the adoption of a new mining code in 2024. The law boosted the state’s minimum free stake in projects from 10 percent to 15 percent and gave the government an option to buy up to 30 percent more in gold ventures.
In line with the code, Burkina Faso has applied to acquire a 35 percent stake in the Kiaka gold mine, operated by Australia’s West African Resources. If approved, Ouagadougou would hold half of the mine, which began production in June 2025.
News of the government’s bid in late August prompted West African Resources to suspend its stock exchange listing, stoking investor unease.
Investors weigh Traoré’s message
At the Africa Down Under mining conference in Perth earlier this month, Mamadou Sagnon, head of Burkina Faso’s mining cadastre, told delegates that the code grants the government an option, not an obligation, to increase its holdings.
Despite those assurances, Traoré’s latest remarks point to a firmer stance, raising questions over how far foreign operators can retain control of assets in the country.
Past mine takeovers heighten caution
The government has already reclaimed assets. In 2024, Ouagadougou took back the Boungou and Wahgnion mines, previously owned by Endeavour Mining but sold to Lilium Mining, controlled by US-Burkinabè businessman Simon Tiemtoré.
The dispute was eventually settled, but it signalled Burkina Faso’s determination to reshape ownership structures in its mining industry.
Gold remains the country’s most valuable export, yet operations face multiple pressures, from security challenges to changing regulation.
For now, Traoré’s message is unambiguous: the state intends to tighten its hold over Burkina Faso gold mining, even if it unsettles investors.
