OUAGADOUGOU — In a significant overhaul of Burkina Faso’s mining regulations, a new mining code was adopted by the nation’s lawmakers on Thursday, aiming to assert greater national control over natural resources and boost local economic benefits.

According to Burkina Information Agency, during his presentation at the 9th edition of the Sankoré universities, the government under President Ibrahim Traoré has initiated comprehensive reforms to the mining sector. This includes industrializing mining operations, strengthening local ownership, and integrating artisanal miners into the broader mining economy. These changes mark a transformative era described by Hien as a “real revolution” in the industry.

Hien detailed the government’s efforts to restructure the mining sector, including the establishment of a new gold refinery and the launch of the first Burkinabè mining residue processing plant. These developments accompany the recently legislated mining code, which promises to maximize state revenues and enhance local community gains from mining operations. The code, developed without the influence of foreign companies despite significant pressure, aims to fortify Burkina Faso’s sovereignty over its mineral resources.

The new legislation revises and replaces previous codes that echoed outdated French colonial mandates, aiming to set a precedent for other nations with similar histories. It includes provisions for mining companies to contribute to the national gold reserve and mandates local investor participation in mining enterprises. Additionally, the legislation restructures the Local Development Mining Fund into a broader Mining Development Fund, supporting national security and municipal development projects.