FrancTrade view: The General Manager of the West African regional bourse in Abidjan has suggested the creation of a mining exchange in the region. We do not yet have details on this proposal but as with other commodities exchanges it will require sound regulatory policies, standardisations, liquidity and core services such as clearing and warehousing. We are seeing some improvement in mining activity in the region as highlighted by recent data from Burkina Faso.
FrancTrade Story: Data from Burkina Faso’s Ministry of Mines and Energy shows production of gold will likely top 48.8 tonnes this year, up nearly 40% from output of 35 tonnes in 2015. However, production is likely to stabilise at 46 tonnes between 2017-18 according to official forecasts. Burkina Faso is the 4th largest exporter of gold in Africa after South Africa (152 tonnes), Ghana (85 tonnes) and Mali (50 tonnes). According to Canadian gold mining company Roxgold which owns assets in the Hounde region, the country has ‘excellent geological potential’ and remains ‘unexplored’ compared with peers such as Ghana and Mali which ‘host world class mines in the same belts of Birimian rocks’.