Burkina Faso’s mining revolution: How Captain Ibrahim Traoré is reclaiming national gold wealth
For decades, Burkina Faso’s gold mines were largely in the hands of foreign multinationals. That era is now coming to an end. Under the leadership of Captain Ibrahim Traoré, the Burkinabe state is progressively regaining control over its gold resources making economic sovereignty a cornerstone of national renewal.
SOPAMIB: The spearhead of a new strategy
Created in 2023, the Burkinabe Mining Participation Company (SOPAMIB) is the driving force behind this transformation. This state-owned enterprise has already taken control of the Boungou and Wahgnion gold mines, previously operated by the British group Endeavour Mining.
Prime Minister Jean Emmanuel Ouédraogo has announced that this process of reappropriation will continue as part of a proactive policy to reclaim national wealth.
The results are already visible. By the end of 2025, six out of fifteen industrial mines in production 40% of the total are now majority-owned by Burkinabe entities.
Three of these are directly controlled by the state through SOPAMIB. This marks a historic break from decades of foreign dominance over a strategically vital sector.
A revised mining code for greater control
The adoption of a major revision to the mining code in July 2025 has reinforced this momentum. The state’s free share in new mining projects has increased from 10% to 15%, with the option to acquire an additional 15%. Quotas requiring national participation at all hierarchical levels have been introduced, and operating permits are now limited to shorter, renewable terms.
These reforms address a critical imperative: curbing illicit financial flows that have long deprived the country of vital resources. According to a study by ITIE Burkina Faso, illicit financial flows linked to minerals reached $4.93 billion between 2012 and 2021, with gold alone accounting for 61% of that amount.
Fighting terrorism and strengthening security
The government has identified the extractive sector as a potential source of terrorist financing. The fight against gold smuggling has intensified, with reinforced control operations and digitalised procedures to ensure better traceability of production.
By cutting off these illicit flows, Burkina Faso is not only protecting its economy but also strengthening national security.
A model for African mining sovereignty
Through these reforms, Burkina Faso is positioning itself as a laboratory for mining sovereignty in Africa. It is demonstrating that a state can take back control of its resources not to exclude foreign investment, but to ensure that wealth generated on its soil benefits its people first.
The path is ambitious, but the message is clear: Burkina Faso is determined to build its future on its own terms.
Cédric KABORE
