• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Junta-Led Burkina Faso Deepens Russia Ties With New Gold Mining Deal

3 months ago
in Business, Economy, Features, highlights, Home, home-news, latest News, Mining
1 min read
0 0
0
110
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

MTN Nigeria Now the Most Capitalized Stock in Nigeria

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

Junta-Led Burkina Faso Deepens Russia Ties With New Gold Mining Deal

Burkina Faso’s military-led government has granted an industrial mining license to Russian company Nordgold for a new gold project.

Burkina Faso’s military-led government has granted an industrial mining license to Russian company Nordgold for a new gold project.

The move comes as the West African nation seeks to capitalize on record-high gold prices to strengthen an economy battered by ongoing insecurity, according to Reuters.

Last year, Burkina Faso reaffirmed its commitment to deepening ties with Russia, emphasizing that the partnership extends beyond military cooperation.

This latest development shows the country’s growing economic alignment with Moscow, as the junta that seized power in 2022 pivots away from traditional Western allies.

Projected gold output and state revenue gains

The Niou gold deposit, located in Kourweogo province in Burkina Faso’s Plateau-Central region, spans 52.8 square kilometres (20.4 square miles) within the exploration license area previously held by Jilbey Burkina, now owned by Nordgold.

According to the Council of Ministers, the Niou project is expected to produce around 20.22 metric tons of gold over its eight-year lifespan.

Under Burkina Faso’s new mining regulations, Jilbey Burkina will retain an 85% ownership stake in the project, while the Burkinabe government will hold the remaining 15% without any financial contribution.

The project is expected to contribute 51.5 billion CFA francs ($89 million) to Burkina Faso’s state budget over its lifespan, along with an additional 7.06 billion CFA francs to the country’s mineral wealth fund, according to the council of ministers.

Gold prices have surged by more than 25% this year, driven by geopolitical tensions and trade policies under U.S. President Donald Trump.

Burkina Faso, which has been battling Islamist insurgents since 2015, remains a major gold producer. According to the mining-focused NGO Swissaid, the country produced over 57 tons of gold in 2023.

The Niou project will be developed in a major artisanal mining zone, potentially displacing many local miners who rely on the area for their livelihoods. The government said the project is expected to create 204 jobs and support employment at the nearby Bissa Gold SA mine.

Source: businessinsiderafrica
Via: norvanreports
Tags: Gold Mining DealJunta-Led Burkina Faso Deepens Russia Ties With New Gold Mining Deal

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

Europe’s Energy Future Hinges on Global Powers

US Companies Cut Investments in China to Record Lows, Here’s Why

How AI is Rewriting and Enhancing Water Risk Management

SheFarms Broiler Edition Kicks Off in Greater Accra

PharmAccess Ghana, Healthcare Federation of Ghana sign SafeCare License Agreement; to use Newest ISQua-Certified Version 5

Tanzania Sink Burkina Faso to Delight Home Crowd In TotalEnergies CHAN 2024 Opener

Trending

Features

MTN Nigeria Now the Most Capitalized Stock in Nigeria

August 3, 2025

MTN Nigeria Now the Most Capitalized Stock in Nigeria MTN Nigeria has surged to become the most...

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

August 3, 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

August 3, 2025

Europe’s Energy Future Hinges on Global Powers

August 3, 2025

US Companies Cut Investments in China to Record Lows, Here’s Why

August 3, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.