The Burkinabè gold sector is shaken by the attack on the convoy of Semafo workers, a company
Canadian mining company located in eastern Burkina.
Wednesday 38 people were killed by armed men, during an ambush, about forty
kilometers from the Boungou mine. On Thursday, Semafo announced the suspension of its operations until
new order.
This is not the first time that the Burkinabè gold industries have been victims of violence. The situation
is worrying for the country's economy, while Burkina is the third largest gold producer in South Africa.
the West with 52 tons per year. The sector contributes more than 11% of Burkina Faso's gross domestic product and
employs more than 1.5 million people.
The Boungou mine poured its first ingot in June 2018. Semafo intended to produce 200,000 ounces
of gold per year from this year, while the mine has reserves of around forty tonnes. " The
suspension of Semafo's activities, even temporary, sends the wrong signal, particularly to
foreign investors,” explains Didier Julienne, commodity consultant.
A 2018 report by the Organization for Economic Co-operation and Development points to the
finger the insecurity that threatens the Burkinabè gold sector: in August 2018, already Semafo convoys
are attacked. The following month, three foreign workers from the Inata gold mine were kidnapped in Dori, in the
north of the country. In January 2019, a Canadian geologist was assassinated in Tiabangou, in the region of
Sahel.
"Clearly, it is the risk / return ratio that will determine the persistence or not of foreign investors
», continues Didier Julienne. Today, gold prices are high, but if insecurity continues, industrialists
could turn to calmer countries such as Ghana, West Africa's leading gold producer.
the West.