Resource nationalism and security risk in West Africa escalates
Key Questions
What resource nationalism measures are emerging in West Africa?
Burkina Faso is demanding 40% of the Kiaka mine and granted a permit to state-owned SOPAMIB for the Bouboulou project. Ghana's 30% state buying rule is impacting major producers including Newmont and AngloGold Ashanti.
How are security issues affecting gold operations in Mali?
Jihadist groups in Mali are financing activities through artisanal gold mining. The Allied Gold-Zijin deal delay further illustrates elevated political and security risks in the country.
What export restrictions has Guinea imposed on gold?
Guinea has implemented a ban on unrefined gold exports, directly affecting AngloGold Ashanti's operations. Ghana is also preparing its first major mining law overhaul in two decades.
Burkina Faso demands 40% of Kiaka mine, grants permit to state-owned SOPAMIB for Bouboulou project ($56M, 7t production). Mali jihadist financing via artisanal gold. Ghana 30% state buying rule impacts Newmont, AngloGold Ashanti, Gold Fields. Guinea unrefined gold export ban affects AngloGold Ashanti. Allied Gold-Zijin deal delay highlights Mali risk. New: Ghana mining law revamp threatens Gold Fields' Tarkwa lease renewal — 20-year extension now subject to new 10-year max, stability agreements phased out. Material regulatory risk for GFI (475k oz from Tarkwa in 2025).