Burkina Faso has reportedly earned around $18 billion from gold production since Captain Ibrahim Traoré took power in 2022, as the country intensifies efforts to gain greater control over its natural resources.
In 2024, the West African nation took back two gold mines previously run by a British company and stepped up local gold processing.
The country has opened its first industrial gold refinery and a local processing plant as part of a broader strategy to reduce reliance on foreign firms and retain more value from its mining sector within Burkina Faso.
Burkina Faso ranks among Africa’s top gold producers, consistently outputting more than 50 tonnes annually in recent years.
Gold remains the cornerstone of the economy, contributing a substantial portion of export revenue and government income.