Burkina Faso’s government has obtained its first shipment of gold bars derived from processing mining residues known as fine coal, previously abandoned at the Essakane mine.
Prime Minister Rimtalba Jean Emmanuel Ouedraogo accepted the bars on behalf of interim leader Ibrahim Traore on Tuesday in Ouagadougou.
The local plant Golden Hand SA, which is tasked with processing fine coal – the leftover material following gold extraction which still holds recoverable gold – handed over 44 gold bars weighing 93.197 kilograms to the Economy Ministry. The bars were derived from 142.37 tonnes of mining residues sourced from IAMGOLD Essakane SA.
Ouedraogo said the outcome exemplifies the government’s vision of fostering wealth creation through local mining expertise, ensuring what he termed “endogenous and sustainable socio-economic development.” He added that there are plans to process more than 298 additional tonnes of residue to further bolster the gold reserves.
In outlining the strategic shift, the prime minister stressed that fine coal from Burkina Faso would no longer be processed abroad.
Joachim Marie Emmanuel Tapsoba, the general director of Golden Hand SA, explained that the extraction of gold from these remnants uses environmentally friendly, cutting-edge technologies. He stressed that the delivery of this initial batch reflects the government’s dedication to serving the people.
This comes in the wake of the January 23, 2024 inauguration of Golden Hand SA’s mining residue treatment plant in the Kossodo industrial zone of Ouagadougou.
Traore described the plant as a landmark achievement for Burkina Faso, noting that prior to its establishment, the country had to export mining residues for processing, limiting its ability to capitalize fully on its resources.
Golden Hand SA is 40% owned by the state and 60% by local businessmen.
Earlier in the year, the National Society of Precious Substances purchased 13.049 tonnes of gold from January to August.
Last December, Burkina Faso entered into an agreement with a Canadian company whereby the state seized from IAMGOLD Essakane SA 440 tonnes of waste from which gold could be extracted.
According to GlobalData, Burkina Faso ranked as the world’s 15th-largest gold producer in 2023, with output up by 4% over the previous year.
