Burkina Faso: Golden Hand SA delivers the first tranche of gold from IAMGOLD Essakane SA’s fine coal mine

On December 10, 2024, Burkina Faso reached a milestone in its resource management strategy as Golden Hand SA, a national mining company, delivered 93.197 kg of refined gold to the Ministry of Economy. This gold, extracted from the disputed charcoal residue of IAMGOLD Essakane SA, represents a turning point in a long-standing legal battle between the mining company and the Burkinabe government.

The charcoal residue, amounting to 444 tonnes, had been the subject of contention until a settlement was reached in December 2023. As part of the agreement, IAMGOLD Essakane SA paid 9 billion CFA francs to the state and ceded ownership of the contested material to Burkina Faso.

The government then tasked Golden Hand SA with processing the residue to recover the gold.

Golden Hand SA employed innovative and environmentally friendly techniques to extract the precious metal, demonstrating the effectiveness of domestic expertise.

The company’s director highlighted the use of advanced, sustainable methods that align with international standards, marking a significant achievement in local industrial capabilities.

This operation reflects Burkina Faso’s broader strategy to assert economic sovereignty and maximize the value of its natural resources. By engaging a local company, the government not only ensured that revenues stay within the country but also bolstered the domestic mining sector’s capacity.

With more gold expected from the remaining residue, this initiative signals progress in Burkina Faso’s pursuit of sustainable economic recovery and development, leveraging its resources to strengthen national resilience.

Cédric KABORE