Monday, September 15, 2025

Burkina Faso Is Cracking Down On Gold Exports

Burkina Faso’s military leadership has announced an immediate halt on the issuance of export permits for gold and other precious commodities sourced from artisanal and semi-mechanized operations. 

The decision, detailed in a February 20 statement, aims to restructure and enhance the regulation of the sector. The government’s move seeks to address the organization and marketing of these commodities, although it remains unspecified how long this suspension will last.

Affected mining groups with materials ready for export are being directed to the National Society for Precious Commodities (SONAP) to discuss compensation. Gold, being the nation’s principal export and accounting for 37% of its total exports in 2020, plays a crucial role in Burkina Faso’s economy, not only as a major revenue stream but also as a significant employment source.

The country’s gold mining industry has faced setbacks due to an ongoing Islamist insurgency and political turmoil, disrupting exploration activities and reducing output. This has led to the closure of several mines and reduced production in others. The insecurity has also contributed to political unrest, resulting in two military coups in 2022.

Artisanal mining represents a substantial portion of the gold produced in the Sahel region, including Burkina Faso. A 2019 Crisis Group report indicates that artisanal methods produce nearly half of the gold in the area, engaging an estimated 1 million people and yielding between 10 to 30 tonnes of gold annually in the country.


Information for this story was found via Reuters, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

New Found Gold: The Strategic Maritime Resources Purchase

Amex Exploration: Revised Perron PEA Has INSANE Economics

Aris Mining: The Multi Billion Dollar Soto Norte PFS

Recommended

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

Related News

Grande Portage Resources Completes 8,150 Metre Drill Program

Grande Portage Resources (TSXV: GPG) has successfully completed its drill program for the 2021 season...

Tuesday, October 26, 2021, 08:19:36 AM

Gold Nears $3,300: So Where’s All the Money? | Luke Norman – US Gold Corp

Chairman Luke Norman of US Gold Corp (NASDAQ: USAU) delivers a compelling case for gold...

Sunday, May 25, 2025, 01:29:00 PM

Argonaut Intersects 98.9 G/T Gold, 30.3 G/T Silver Over 12.2 Metres At La Colorada

Argonaut Gold Inc. (TSX: AR) announced this morning the drill results from below the El...

Monday, April 26, 2021, 08:25:50 AM

Fiat Expansion Is Driving Money Into Hard Assets – The Daily Dive feat Florian Grummes

Today on the Daily Dive, host Cassandra Leah sits down with that of Florian Grummes,...

Tuesday, March 23, 2021, 01:30:00 PM

Spruce Ridge Amends Option Agreement On Two Newfoundland Properties

Spruce Ridge Resources (TSXV: SHL) this morning announced that it has amended an option agreement...

Tuesday, September 15, 2020, 10:40:40 AM