OUAGADOUGOU, July 10 (Xinhua) -- Burkina Faso's government has authorized the industrial exploitation of the Bouboulou gold mine by the state-owned Burkina Mining Participation Company (SOPAMIB), marking the country's first state-operated industrial gold mine.
The decision was approved on Thursday at the weekly cabinet meeting, granting an industrial mining permit to SOPAMIB Bouboulou S.A., a subsidiary of SOPAMIB.
Located in Yako in the Yaadga Region, the mine contains an estimated 10.77 million tonnes of ore. Authorities expect total gold production to reach 7.27 tonnes over a 15-year mine life.
The project will require an investment of more than 32 billion CFA francs (about 56 million U.S. dollars) and is expected to generate nearly 39 billion CFA francs in direct government revenue, excluding dividends, according to the government.
It is also expected to create and sustain more than 1,200 direct and indirect jobs.
Minister of Energy, Mines and Quarries Yacouba Zabre Gouba said the project represents a major shift in Burkina Faso's mining policy, with the state becoming a direct industrial operator rather than relying solely on private concessionaires. ■