The government of Burkina Faso has decided to grant permission for the operation of a new gold mine to the Russian company Nordgold, lepoint.fr reported.
A four-year license for the development of the Yimiougou deposit with an area of 31.44 square kilometers will allow achieving an estimated total production volume of 2.53 tons of gold.
The direct contribution of this production to the State budget of Burkina Faso is estimated at 8.1 million euros. Another 1 million euros is expected to be allocated to the mining industry development fund.
Nordgold, founded in 2007, was one of the first to start gold mining in the country through its two subsidiaries: Taparko mining company (Somita) and Bissa gold.
Nordgold already operates three fields in the north of Burkina Faso. In April, the company announced the closure of the Taparko mine for "safety reasons."
17 industrial mines in Burkina Faso annually produce about 70 tons of gold, which in ten years has become the country's leading export commodity, ahead of cotton.
According to the National Ministry of Mining, 1.5 million people are employed in the artisanal gold mining sector, whose annual production volume is additionally about 10 tons of gold.
Alex Shishlo for Rough&Polished
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