(Ecofin Agency) - Burkina Faso produced about 67 tonnes of gold in 2021. Since then, production has steadily declined due to security challenges. Despite new projects, the future of the gold sector remains uncertain.

In 2024, Burkina Faso experienced its third consecutive drop in industrial gold production. While final figures for last year are not yet available, data shows that production reached 47.7 tonnes by the end of November 2024, down from 50.9 tonnes during the same period in 2023. Prospects for improvement in 2025 remain unclear, despite ongoing projects.

Reasons for the Decline

The decline in gold production is linked to ongoing security issues. In late 2022, former Minister of Mines Simon-Pierre Boussim acknowledged that a 14% drop in production that year was due to "general insecurity aggravated by terrorism."

A December 2024 report from the Extractive Industries Transparency Initiative (EITI) supports this, noting that attacks by armed groups halted production at five gold mines in 2022. Additionally, Endeavour Mining sold the Boungou and Wahgnion mines in 2023. While Endeavour did not directly cite security concerns as the reason for the sale, it mentioned that divesting "higher-cost, higher-risk" assets was part of its risk management strategy. Due to a dispute between Endeavour and Lilium Mining, these mines struggle to contribute to national production.

Last year, the government agreed with both companies to integrate the mines into the State's portfolio but did not provide details on future operations. The Boungou and Wahgnion mines produced around 7 tonnes of gold in 2022 (240,000 ounces).

An Uncertain Future

Despite some companies leaving Burkina Faso, others continue to invest in new mines or expand existing ones. For instance, Canada's Orezone Gold launched its Bomboré mine at the end of 2022; the asset is under expansion now. By late 2025, Bomboré's annual production capacity is expected to exceed 170,000 ounces, up from 118,746 ounces in 2024. It could soon enter a second phase of expansion, which could increase annual production to between 225,000 and 250,000 ounces.

Australia's West African Resources should also begin production at its Kiaka gold mine in the third quarter of 2025. The mine is expected to add 234,000 ounces annually for at least two decades.

It remains unclear how much these new projects can reverse the decline in industrial gold production in Burkina Faso–a situation that greatly affects the national economy. 

The extractive sector accounted for 73.3% of Burkina Faso's exports in 2022. Gold, which contributed 96% of these exports, generates 20.9% of public revenues and 14.5% of Burkina’s GDP.

Emiliano Tossou