Burkina Faso has completed the nationalization of key gold mining assets previously owned by London-based Endeavour Mining, marking a significant step in the country’s efforts to assert greater control over its natural resources.
On Thursday, authorities confirmed the transfer of five major gold assets—including two active mines and three exploration licenses—to the state-owned mining company, Société de Participation Minière du Burkina (SOPAMIB).
The assets transferred include Wahgnion Gold SA and SEMAFO Boungou SA—two operating mines formerly under Endeavour’s control—along with the subsidiaries Ressources Ferké SARL, Gryphon Minerals Burkina Faso SARL, and Lilium Mining Services Burkina Faso SARL. These subsidiaries held exploration rights to three undeveloped gold sites.
While the Burkinabè government had already assumed operational control of the mines in late 2024 following a legal dispute between Endeavour and Lilium Mining, the state had continued paying royalties to the foreign company. Thursday’s move ends those payments, ensuring that 100% of the profits from these mining operations will now flow directly to the state.
The nationalization coincides with the enactment of a new mining law on Wednesday, which raised the government’s mandatory share in major foreign-operated gold mines from 10% to 15%. The law, passed by the transitional government, also gives the state the right to increase its stake to as much as 45%, and in some cases, pursue full nationalization.
This legal shift affects several mining projects operated by the Australian company West African Resources and reflects a broader trend toward state-led resource management in the Sahel region.
Gold prices have surged nearly 27% this year, reaching record highs. With gold accounting for more than 70% of Burkina Faso’s export revenue, the spike has further incentivized the government to secure a larger share of profits.
Burkina Faso’s nationalization push aligns with efforts by neighboring Mali and Niger, both of which are also asserting greater sovereignty over their mineral wealth. In Mali, a judge on Thursday postponed a ruling regarding a state request to appoint a government administrator to temporarily operate the Loulo-Gounkoto gold complex—one of Africa’s largest mines—as part of a broader move to nationalize it from Canadian firm Barrick Gold.