Used google translator to convert this article from french to...

Used google translator to convert this article from french to engrish.... forgive the grammar...


Burkina Faso: gold promises stable revenue

With the entry into production of a new field in mid-January and four more next year, or the first export of the country attracts foreign operators. And mobilizes state.

"As long as gold shines, force friends. "In Burkina Faso, the influx of foreign investors attracted by the bonanza gold does not deny the English proverb. Each day brings new demands exploration. December 31, 941 titles - research permit or operating - were granted to different operators in the sector. Came mainly from Canada (Endeavour Mining, Semafo, Iamgold ...) or the UK (Cluff Gold, Avocet ...), they are prospecting, digging and extract the yellow metal per million ounces. October 2007 marked the start of the rush for gold deposits in Burkina Faso, with the development of the site Taparko (North-East), operated by the Canadian High River Gold. In June, the historic Poura (West) - first mine in the country, closed in 1999 after several attempts unprofitable - even found buyer: the American Newmont Ventures Ltd., which has to invest 522 billion CFA francs (796 million euros) in exploration and development.


[/ LINK] The principle is the same every time: within a consortium, the private company that invests holds 90% of shares, while the remaining 10% returned to the State in accordance with the provisions of the Mining Code 2003, which must also be reformed in the course of this year.


"With more than 754 billion CFA francs in 2012, or consolidates its position as the leading export product," welcomed Prime Minister Luc Adolphe Tiao, in its policy statement on Jan. 30. On the overall turnover, the ore has reported 188.69 billion CFA francs of net income taxes and royalties alone, contributing to about 5% of GDP. An increase of more than 52.5% of revenues compared to 123.63 billion CFA francs received in 2011, thanks to record prices, and even if the industrial production of six mines (Mana Yuga, Kalsaka, Taparko, Belahouro, Essakane) declined slightly to 30.9 tonnes, against 32.6 t in 2011.

Since January 17, a seventh field came into production, Sabcé (North Central). Operated by Bissa Gold SA (a joint venture between the State and the Russian Nordgold), its first ingot weighing 14 kg. Site development, begun in 2011, required an investment of 125 billion CFA francs for reserves estimated at 153 t.

Production, which fell in 2012, is expected to rebound in 2014, and the International Monetary Fund said in January his country report, like the Burkinabe Minister of Mines, Quarries and Energy, Salif Kabore Lamoussa . The four projects Kiaka (South), Karma (North), Banfora (Southwest) and Batie (South East), developed respectively by the Volta Resources Canadian and Australian Riverstone Resources and Gryphon Minerals and Mining Ampella, will indeed commence operations. Under the sun of the Sahel, the gold fever is contagious.