Russian company gets new gold mining license

AA / Ouagadougou / Dramane Traoré

The government of Burkina Faso gave, Wednesday in the Council of Ministers, its agreement for the granting of a new operating permit for a gold mine to the Russian company Nordgold Yimiougou SA in the commune of Korsimoro, province of Sanmatenga, in the Center-North region of the country, we learned from official sources.

The report of the Council of Ministers points out that the mining reserves of the Yimiougou deposit are estimated at 1,501,412 tonnes of ore, with an average grade of 1.88 grams per tonne and an estimated metallurgical recovery rate of around 87.1%.

Planned for a period of four years, this deposit covers an area of ​​31.44 km2 for a total production estimated at 2.53 tonnes of gold, according to the same source.

At the end of the Council of Ministers, the Minister in charge of Mines, Simon Pierre Boussim also indicated that the government has given instructions to carry out due diligence on certain files which can allow Burkina Faso to benefit from its mining resources, including the review of the mining code and the establishment of a refinery project to refine Burkina’s gold in order to know exactly the gold content in Burkina and what industrial companies are exploiting as a volume of gold in the country.

Since 2009, gold has become Burkina Faso’s leading export product, overtaking cotton and ranking the country among the largest gold producers in Africa, alongside South Africa, Ghana and Morocco. mali.

From a production of 5.6 tonnes of gold in 2008, the country exported 66.858 tonnes in 2021 with a contribution to the State budget which has improved significantly in recent years from 8.912 billion CFA francs (13 322,231 dollars) in 2008 to 322 billion CFA francs (536,219,805 dollars) in 2020, according to data from the ministry in charge of mines.

In addition, according to data from the Ministry of Mines and Quarries, the sector created 51,635 direct jobs.

The mining sector, with 17 mines in operation, has faced security challenges imposed by armed terrorist groups in recent years, forcing at least three companies to close.

On April 11, 2022, the Russian mining company Nordgold announced the shutdown for “security reasons” of its Taparko mine, located in the north of the country and which employed some 600 people.

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