Burkina Faso Suspends Export Permits For Gold Mining And Other Precious Metals – There is no denying that Burkina Faso’s junta leader, Captain Ibrahim Traore, has ushered in a series of positive changes since assuming power, with a primary focus on liberating the country from neocolonial influences and shaping a brighter future for its citizens. Notably, Traore has demonstrated a resolute commitment to combating terrorism and restoring territorial integrity by implementing comprehensive reforms within the defence and security forces. This includes the acquisition of new military equipment and the recruitment of approximately 10,000 army and navy officials. To further address the threat of jihadist groups, he bolstered the Volunteers for the Defence of the Fatherland by enlisting about 90,000 indigenous volunteer fighters, bolstering national security and instilling a sense of safety among the Burkinabe people. Furthermore, Traore’s administration has actively worked towards reducing dependence on foreign powers, particularly France, thereby boosting national pride and emphasizing self-reliance. Also, as part of efforts to rebuild the state and enhance governance, Traore introduced legislation targeting clientelism and political patronage in the public service. His anti-corruption initiatives have resulted in the arrest of prominent figures like Vincent Dabilgou, the former transport minister, and four others, who received substantial prison sentences for embezzlement and money laundering. These transformative measures underscore Traore’s dedication to steering Burkina Faso towards a more secure, self-sufficient, and accountable future. And in an interesting development, Traore has once again taken a pivotal decision by suspending export permits for small-scale gold production of gold and other precious metals. Join us in today’s video as we examine the reasons behind this decision, the impact it would have on Burkina Faso, and many more.
Burkina Faso’s military junta has, with immediate effect, banned the issuing of export permits for artisanal and semi-finished gold, as well as other precious stones mined in the country. This decision was made public in a statement from the country’s Ministry of Energy, Mines and Quarries released on Tuesday, 20th February 2024. The ministry added that the move was made to properly regulate the sale of precious substances. “This suspension follows the need for sanitation in the sector and reflects the government’s desire to better organize the marketing of gold and other precious substances,” the statement clarified. The government also stated that during the suspension period, miners with gold to export should contact the National Society of Precious Substances for compensation. However, there was no clarification on how long the suspension period would be.
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