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Burkina Faso expects 45 tons of gold production in 2017

Burkina Faso has projected a total production of 45 tons of gold for the year 2017, APA learned on Thursday from the ministry of Mines.The ministry bases its forecast on the entry into production of two new gold mines bringing to ten the number of industrial mines in service.

Zinc production is expected to remain at its historical level of 130,000 tons, the same source said, pointing out that in the year 2016, mining revenues amounted to CFA 189.9 billion francs, an increase of 12.8 percent in comparison to 2015.

Burkina Faso, through its mining reforms, plans to increase the sector’s contribution to the country’s Gross Domestic Product (GDP) from 7.9 percent in 2015 to 10.2 percent in 2020.

Mining activity in Burkina Faso has been booming since 2003, making gold the country’s first export product ahead of cotton (since 2009).

Burkina Faso is considered Africa’s fourth largest producer of gold behind South Africa, Ghana and Mali.

With more than CFA 916 billion francs in direct contributions to the State budget between 2008 and 2015 and close to 600 mining licenses granted at the end of 2016, the mining sector in Burkina Faso is doing well with a new mining code adopted in 2015.

Published on 28.04.2020

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