Burkina Faso is tightening its control over a $7 billion gold industry as the military-led government accelerates reforms aimed at reducing foreign dominance in mining and strengthening national ownership.
President Ibrahim Traoré has positioned the sector at the center of his economic sovereignty plan, and the government now pushes to keep more mining wealth inside the country.
By the end of 2025, six of the 15 industrial gold mines in Burkina Faso fell under majority Burkinabe ownership, according to mining reports from Mines Actu Burkina.
Three of these mines now sit directly under state control through the Burkina Faso Mining Participation Company, known as SOPAMIB.
This shift marks one of the most significant changes in West Africa’s mining structure in decades.
The government has also expanded local private participation in the sector.
Before the reforms, foreign companies dominated most industrial mining operations, while only one major mine sat under local ownership.
Now, Burkinabe investors are stepping in more aggressively, including businessman Inoussa Kanazoe, whose Soleil Resources International group reportedly acquired key assets such as the BMC and Roxgold mines.
Authorities argue that the reforms strengthen national development by keeping a larger share of mining revenue within Burkina Faso.
The government wants these funds to support infrastructure, industrial growth, and economic diversification across the country.
Traoré has repeatedly framed mining control as a core national priority.
During the launch of a national gold refinery project in 2023, he declared that Burkina Faso intends “to extract gold ourselves,” signaling a long-term shift away from foreign dependence.
This policy shift reflects a wider movement across Africa. Many governments now push for greater control over strategic resources as global competition increases and security pressures rise.
As a result, resource nationalism continues to reshape mining policies across the continent.
Burkina Faso’s gold strategy highlights a growing trend in Africa’s resource sector, where governments seek stronger ownership, higher local participation, and reduced foreign control.
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