Burkina Faso: The Bomboré gold mine makes a remarkable contribution to the economy

Since beginning production at the end of 2022, the Bomboré gold mine, located in the Plateau-Central region of Burkina Faso, has become a significant player in the country’s economic landscape. In 2023, the mine, owned 90% by the Canadian company Orezone and 10% by the Burkinabe government, contributed a substantial $171 million directly to the national budget, underscoring the growing importance of the mining sector for Burkina Faso’s development.

The gold sales from Bomboré in 2023 generated $270 million in revenue, highlighting the mine’s operational efficiency and its status as one of the most promising mining projects in the country.

For Orezone’s shareholders, this success translated into a net profit of $43.14 million, reinforcing the appeal of mining investments in Burkina Faso.

The Burkinabe government’s 10% stake in the Bomboré mine serves as a model for successful collaboration between the state and private investors.

This partnership ensures the country benefits not only from royalties and taxes generated by the mine’s operations but also from dividends tied to its performance.

Moreover, the $171 million contribution from Bomboré plays a crucial role in strengthening Burkina Faso’s infrastructure, supporting key social sectors, and financing security efforts to address ongoing national challenges.

The mine’s impact is felt beyond the financial sector, reinforcing the importance of mining as a pillar for the country’s economic and social development.

Papa IBRAHIMA