Ouagadougou: Burkina Faso’s commitment to sovereignty over its mineral resources was emphasized with the inauguration of the first factory under Burkinabe law, dedicated to processing the country’s mining residues. The Burkinabe-registered factory, Golden Hand, officially commenced operations on Tuesday, marking a significant step in the nation’s efforts to manage its mineral wealth independently.
According to Burkina Information Agency, Burkina Faso’s Minister in charge of Mines, the establishment of Golden Hand is a clear declaration of the country’s intent to assert itself and fully embrace its sovereignty. He highlighted concerns over the processing of mining residues outside the nation’s borders, which he believes compromises the state’s interests. The minister specifically referred to the ‘fine coal file’ as an example of the risks associated with external processing, including suspected fraud.
The need for such a facility became evident with the disparity in gold declarations by industrial and artisanal miners. In 2022, the 13 production mines reported a combined output of 57,674 tonnes, a figure dwarfed by the 457 kg from artisanal production. This discrepancy underscored the missing links in the value chain that prevented Burkina Faso from reaping the full benefits of its mineral resources.
Minister Gouba explained that establishing endogenous methods for maximizing the recovery of metals from mining residues was an urgent necessity. In line with this, the Transitional Government has been vigilant in overseeing the mining sector. Efforts include the creation of the National Company for the Purchase of Precious Substances (SONAPS) and initiating the construction of a refinery plant. The government also encourages youth participation in the mining industry.
Golden Hand, entirely owned by Burkinabe stakeholders, represents a significant stride in this direction. The state holds a 40% stake, while the remaining 60% is owned by players in the national private sector. This structure underlines Burkina Faso’s commitment to controlling and benefiting from its natural resources.
Ouagadougou, Burkina Faso – A new mining residue processing facility, Golden Hand, has commenced operations in Ouagadougou, promising to significantly contribute to the national economy and combat youth unemployment. The plant, located in the Kossodo industrial zone, was inaugurated under the high patronage of the President of the Transition, Captain Ibrahim Traoré.
According to Burkina Information Agency, Chairman and CEO of Golden Hand, the plant has started its activities by employing 124 workers, including 70 women. This step marks a significant move towards addressing the issue of youth unemployment in the country. Tapsoba revealed these details on Tuesday during the official ceremony launching Golden Hand’s activities. He emphasized the company’s role in providing job opportunities, with a current workforce comprising 70 women and 54 men engaged in various operational roles at the factory.
Yacouba Zabré Gouba, the Minister in charge of Mines, who delivered the speech of the Head of State, highlighted the growth of the extractive industry in Burkina Faso. However, he pointed out the absence of essential links in the industrial transformation chain within the country. Gouba noted that while mining companies produce several tons of residues, there has been a lack of specialized companies in Burkina Faso for extracting precious metals from these residues. This gap has led to the export and processing of these materials outside the country, posing risks to the state’s interests.
Captain Ibrahim Traoré, during the ceremony, emphasized that the launch of the mining residue treatment facility aligns with the President of the Transition’s vision to establish real sovereignty for Burkina Faso based on endogenous solutions. The establishment of Golden Hand is seen as a step towards self-reliance and economic advancement in the face of challenges in the mining sector.