Burkina Faso plans to end the agreement with Pan African Minerals (PAM) on Tambao mine, Bloomberg reports.
Oumarou Idani (photo), the Burkinabe mine minister declared on national TV yesterday April 11, that the state will give a 90 days notice to the company headed by Frank Timis, to end the agreement. He also indicated that the company has failed to construct the rail and road infrastructure included in the contract.
Indeed, while the company’s lawsuit against the State is still pending at the International Court of Arbitration, this declaration from the minister appears as another sign of a definitive breach of trust between both sides.
Let’s recall that last February, the minister said the government was seeking a new partner to operate the mine, and according to recent comments, there would be many interested companies.
Tambao mine would house more than 100 million tons of ore and is expected to produce 3 million tons per year.
(EBID) - EBID aims to allocate nearly 41% of its commitments to projects with environmental and...
Four major operators—Mauritel, Mattel, Rimatel, and Chinguitel—submitted a combined bid of ...
Operators review 2025 investments, outline 2026 expansion plans Consumer complaints persist...
Algeria launches bid for two NGSO satellite telecom licenses Move aims to expand broadband ac...
Gabon's 7% 2031 Eurobond posted its biggest single-day drop in a year on Wednesday after a new I...
Nigerian airlines warn of flight suspensions over soaring jet fuel Kerosene prices jump nearly 300%, far above global increases Supply risks, high...
Central African Republic plans fuel corridor via Congo’s Pointe-Noire Project aims to diversify supply beyond Douala route dependence Structural,...
Burkina Faso to nationalize Sofitex, buying remaining private shares Company valued at 338 billion CFA francs amid high debt Move aims to boost cotton...
In Nigeria, authorities are warning of heightened cholera risks linked to flooding, while Lassa fever continues to claim lives despite a decline in weekly...
Lomé is hosting the 9th edition of the International Film Festival of Togo (FIFTO) featuring 33 films. The event promotes African storytelling in...
Fally Ipupa plans a two-part album project combining urban sounds and traditional rumba. The first album “XX” releases on April 17, while “XX Delirium”...