Burkina Faso has officially nationalized five key gold mining assets, cementing its push for greater control over natural resources. The move transfers ownership from subsidiaries of Endeavour Mining and Lilium to the state-owned SOPAMIB, following a stalled attempt by Endeavour to sell its assets to Lilium. This marks a major step in the country’s mining reform, mirroring recent moves in Mali and Niger. The shift aligns with a broader policy to maximize resource benefits for local populations, especially as gold prices surge by 27% this year. As Africa’s fourth-largest gold producer, Burkina Faso aims to boost state revenue through continued nationalization—though this bold strategy is raising concerns among Western investors eyeing the region’s mining future.
Reuters
