Faith Nyasuguta
Burkina Faso is setting its sights on a brighter economic future through gold, planning a significant boost in industrial gold production in 2025. The military-led government is betting on the return of dormant mines and the launch of new projects to power its economy, even as Western investors continue to pull out over security concerns.
According to Aristide Belemsobgo, Director General of Mines and Geology at the Ministry of Energy, Mines and Quarries, industrial gold production is expected to rise by 4% next year, reaching 55.7 metric tons. This increase will be driven by a ramp-up in operations at Soleil Resources International Ltd.’s Youga mine and the expected commencement of gold output from Australia’s West African Resources Ltd.’s Kiaka mine.
Soleil Resources reactivated the Youga mine in October 2024 after years of inactivity, marking a key step in the country’s mining revival. Meanwhile, the Kiaka mine, located in the southeast, is projected to pour its first gold in the third quarter of 2025, bringing a fresh wave of output to the sector.
As Africa’s fourth-largest gold producer, Burkina Faso relies heavily on gold to support its economy. However, this critical sector has been shaken by rising insecurity and attacks from armed groups, leading to a drop in investor confidence and halts in production at several sites.
Since seizing power in a 2022 coup, revolutionary leader Captain Ibrahim Traore has embarked on a strategy to tighten state control over natural resources. The government has updated its mining code to increase national ownership and ensure that more mining revenue benefits the country.
This tougher stance has unsettled many Western mining companies. In April 2025, Canadian firm Fortuna Silver Mines became the latest to exit the country, selling its Yaramoko gold mine to a local company for $130 million. Fortuna cited dwindling reserves and rising operational risks. Prior to that, Endeavour Mining, one of the biggest gold producers in West Africa, also withdrew from Burkina Faso.
At the same time, Burkina Faso has been strengthening partnerships with Russia, following a trend seen across other junta-led nations like Mali and Niger. In May, the country awarded a new industrial mining license to Russian company Nordgold. The new project is expected to yield 20.22 metric tons of gold over an eight-year period.
According to the Council of Ministers, this mine will contribute around 51.5 billion CFA francs (roughly $89 million) to Burkina Faso’s national budget. An additional 7.06 billion CFA francs will be directed to the country’s mineral wealth fund, supporting development goals.
As Western companies exit and Russian ties deepen, Burkina Faso appears to be redrawing the map of its mining future, one that prioritizes national control, regional alliances, and long-term revenue over traditional investor comfort. Whether this shift will stabilize the country’s volatile mining sector or heighten tensions will only be revealed over time. But for now, gold is once again the country’s golden hope.
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