Burkina Faso Expands State Control Over Mines Amid Economic Reforms

The Burkinabè government intends to nationalize more foreign-owned mines to secure a larger share of revenue from Burkina Faso’s gold resources, according to Prime Minister Jean Emmanuel Ouédraogo. The country is expanding its control over mines through the state-run Société de Participation Minière du Burkina (SOPAMIB), which recently acquired two gold mines previously owned by Endeavour Mining. Last year, Ouagadougou introduced a revised mining code that prioritizes local expertise and suppliers. Despite concerns from investors, the government argues that these reforms are essential to boosting revenue and stabilizing an economy affected by ongoing Islamist violence. As gold prices rise, Burkina Faso continues to strengthen its mining sector, signaling a shift toward greater self-reliance and reducing dependency on foreign investors.

Reuters