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Burkina Faso

Pros and cons of a gold rush

PREVIEW

Traore’s regime is eyeing increased revenues but its Islamist opponents also see opportunity

Burkina Faso’s military government says that industrial gold production will increase by 4% this year on the back of projects led by Mauritian and Australian firms. That extra output, combined with record gold prices, could help provide the funds for President Ibrahim Traoré to fight an Islamist insurgency that is growing stronger.

Traore has identified gold as the country’s most important export, re-writing the mining code in 2023 to allow the government to obtain larger royalty payments from companies. His government also plans to nationalise more foreign-owned industrial mines (AC Vol 66 No 9, The juntas join the gold rush).

But the US has warned that Islamist militants are getting closer to the West African coast, with Africa Command leader General Michael Langley noting that the insurgents would ‘love to be able to get to the coastline to connect those revenue streams.’ That could include gold smuggling.

Langley added that ‘extremist organisations are starting to make their way further to the west and really starting to coalesce in Burkina Faso’.

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