Burkina Faso, the third-largest gold producer in West Africa, deserves more recognition for its rich mineral resources, including gold, manganese, and rare earth metals. The government is negotiating with mining companies to develop a world-class manganese mine, diversifying the country’s revenue streams. Gold currently accounts for almost 80% of Burkina Faso’s exports, but the focus is shifting to exploring other mineral deposits. The mining sector has grown rapidly since 2007, thanks to government support and relative political stability. Companies like Endeavour Mining, Toro Gold, and Roxgold are interested in operating in Burkina Faso, attracted by its high-grade gold and favorable policies. However, power shortages hinder progress, and the government is building a 33MW solar power plant to address this challenge. Nearby Mali has a thriving mining sector, with expected gold production to surpass 60 tons by next year. Both countries’ political stability and favorable policies make them attractive to investors. Nigeria is also developing its mining sector, with Thor Explorations leading the way. Financing is crucial for project development, and innovative methods like crowdfunding are gaining traction. Boutique private equity firms are investing in mining, but timing is critical due to the cyclical nature of the industry. Despite advances in legislation, perceived lack of transparency and bureaucracy still deter investors.
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