French Investors Furious After Burkina Faso Grabs Back Its Gold Mines

Burkina Faso has taken a bold step toward asserting control over its natural resources. On June 18, 2025, President Captain Ibrahim Traoré announced the expulsion of five foreign-linked gold mining companies and the nationalization of their operations.

According to Traoré, the companies, some of which are tied to French investors through shares or subcontracting agreements were operating in ways that exploited the country’s gold resources without providing fair benefits to the Burkinabè people. “We cannot allow our wealth to leave while our communities remain in poverty,” the president said in a public statement.

The decision includes the revocation of mining permits and the transfer of control to state authorities. One of the most impacted firms is Endeavour Mining, which, while not French-owned, has significant French investment links. No directly French companies operate in Burkina Faso’s gold sector, but French interests are expected to feel the effects through their financial ties.

Burkina Faso is the fourth-largest gold producer in Africa, yet much of its population continues to live in poverty. This move, Traoré says, is part of a broader strategy to use gold revenues for national development and to reduce dependency on foreign capital.

The nationalization comes amid growing dissatisfaction over foreign control in key sectors and widespread insecurity across the country. Over 8,000 people reportedly died in conflict-related violence in 2023 alone. In this context, the government sees economic sovereignty as essential to long-term stability.

The reaction from the international business community has been cautious. Legal challenges and reduced investor confidence are likely outcomes, especially given concerns about the country’s capacity to manage large-scale mining operations without foreign expertise. Economists warn that while the move could bring long-term benefits, the short-term risks are significant.

Still, within Burkina Faso, the decision has struck a chord. Many citizens have long voiced concerns about the unequal distribution of mining wealth and the limited local impact of multinational operations. For them, this moment signals a potential turning point in how the country manages its resources.