Saturday, December 3, 2022

Burkina Faso miners say work continues despite coup

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Endeavour Mining’s operations in Burkina Faso are “unaffected by recent political events”, the gold miner said on Monday after the West African nation’s second military coup of the year on Friday.

Endeavour is the biggest mining company in Burkina Faso, with four gold mines – Houndé, Mana, Boungou, and Wahgnion – and two exploration projects.

The company also has mines in Senegal and Ivory Cost, but its Burkina mines account for 54 per cent of expected 2022 production, Berenberg analysts said. Endeavour said it is monitoring the situation and would provide further updates “if appropriate”.

Endeavour’s London-listed shares fell 1.6 per cent.

West African Resources said its Sanbrado gold mine in Burkina Faso is operating as normal, staff and contractors are safe and the communities around Sanbrado remain calm.

Its shares fell 10 per cent to hit a one-year low.

IAMGOLD, which runs the Essakane mine in the country, did not respond to Reuters questions about the potential impact of the coup.

Reuters/NAN

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