Burkina Faso is reshaping ownership of its gold mining sector, with local companies and the state taking control of a growing number of industrial mines. Authorities say the changes are intended to ensure more mining wealth supports national development…reports Africa Daily News Desk
Burkina Faso is tightening control over its gold industry as the government moves to reduce foreign dominance in mining and retain more revenue from one of the country’s most important economic sectors.
The West African nation, one of Africa’s leading gold producers, has spent the past three years restructuring ownership within its mining industry in what authorities describe as a drive for “economic sovereignty”.
By the end of 2025, six of Burkina Faso’s 15 active industrial gold mines were majority-owned by Burkinabe companies, according to specialised mining outlet Mines Actu Burkina. Three of those mines are now directly controlled by the state through the Burkina Faso Mining Participation Company, known as SOPAMIB.
The changes mark a significant shift in a sector historically dominated by foreign multinational firms, which for decades controlled much of the country’s industrial gold production and revenues.
President Ibrahim Traoré has increasingly presented control over natural resources as central to Burkina Faso’s political and economic strategy. During the launch of a national gold refinery project in 2023, he said Burkina Faso intended “to extract gold ourselves.”
Before the current administration came to power, only one industrial mine in the country was operated by a national company, according to Mines Actu Burkina. The outlet reported that local investors are now taking a more prominent role in the sector, including businessman Inoussa Kanazoe, whose Soleil Resources International group reportedly acquired the BMC and Roxgold mines.
Authorities say the reforms are intended to ensure a greater share of mining revenues remains inside Burkina Faso and can be used to support infrastructure projects, industrialisation and broader national development goals.
Gold remains one of Burkina Faso’s most valuable exports and a major source of state income. The sector has attracted significant foreign investment over the years, particularly from companies based in Canada, Australia and other mining-focused economies.
The government’s latest measures reflect a broader trend across parts of Africa, where several countries are seeking greater control over strategic natural resources amid growing geopolitical competition, economic pressures and calls for resource nationalism.
Governments across the continent have increasingly argued that previous mining arrangements allowed too much wealth to leave producing countries while offering limited long-term benefits to local populations. In response, some administrations have pursued reforms aimed at increasing state ownership, renegotiating contracts or expanding the role of domestic investors in extractive industries.
Supporters of Burkina Faso’s approach argue that stronger local participation could help increase public revenues and reduce dependence on foreign companies. They say keeping a larger share of profits within the country could support economic development and create greater domestic control over strategic industries.
Critics, however, have previously warned that rapid restructuring in mining sectors can create uncertainty for foreign investors and may affect future investment flows if companies become concerned about political or regulatory risks.
Burkina Faso’s mining reforms are taking place against the backdrop of wider political and security challenges facing the country. The military-led government has repeatedly linked economic independence to national sovereignty and regional self-reliance.
The administration has also strengthened ties with neighbouring military-led governments in Mali and Niger, with the three countries increasingly presenting themselves as pursuing alternative political and economic models less dependent on Western influence.
For Burkina Faso, gold remains central to that strategy. With industrial mines now increasingly under national or state-linked ownership, the government appears determined to expand domestic influence over one of the country’s most lucrative industries.
