In a stunning economic shift, Burkina Faso’s gold revenue has skyrocketed to close to $18 billion since Captain Ibrahim Traoré took the reins in 2022 — a remarkable leap from the paltry $1 billion per year that was typical under foreign-controlled French mining companies.
This impressive growth is tied to Cpt.Traoré’s daring decision to nationalize gold mines, eliminate foreign middlemen, and return the country’s resources to local hands.
While actual production estimates (166 tons since 2022) and global gold prices suggest a figure closer to $11.3 billion, insiders indicate that the extra revenue likely stems from the thriving artisanal and informal mining sectors that are now under local management.
Gold is the lifeblood of Burkina Faso’s economy, accounting for 10% of GDP and 70% of exports. Despite facing 487 security-related attacks in 2024 that have disrupted some operations, Traoré remains firmly in control, and key sectors are reportedly aligning with his vision.
However, critics are voicing concerns about transparency, wealth distribution, and how much of this newfound gold wealth actually trickles down to the average citizen.
Is this the beginning of true independence — or just another chapter in a long-standing struggle?
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