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Burkina Faso Information

 Burkina Faso Flag
Fast Facts
  • French-speaking
  • Pop. 17 million
  • Democratically elected government
  • Modern mining codes with clear taxation policies
  • Ranked 8th in Africa and 22nd overall for Current Mineral Potential in The Fraser Institute of Canada’s “2017 Survey of Mining Companies”

The mining industry in Burkina Faso is growing at a rapid rate due to a combination of a stable elected democratic government, excellent geology and a competitive fiscal regime. Currently ten gold mines are in production or development in Burkina Faso (Essakane – IAMGOLD Corporation; Mana – SEMAFO; Inata – Balaji group; Youga – Avesoro; Taparko – Nordgold.; Hounde – Endeavour; Karma – Endeavour; Yaramoko – Roxgold; Komet – Guiro; and Bongou - SEMAFO). Gold mining production doubled between 2009 and 2010, and in 2012, Burkina Faso became the fourth largest gold producing country in Africa. The country has a legislated corporate tax rate of 27.5% for mining companies. The government is entitled to a 10% free carried interest and a competitive 3-5% sliding royalty on gold production. There is also a community development royalty of 1% of monthly revenues (before tax).