Ibrahim Traore Just Made A Strategic Move That Will Save Africa

Ibrahim Traore Just Made A Strategic Move That Will Save Africa To establish control over the mining industry and take action regarding gold production, President Ibrahim Traore implemented a specific system. On February 21, 2024, Burkina Faso’s newly appointed Mines Minister, Yakuba Zabre, announced the immediate suspension of gold and precious metal exports from artisanal mining. This suspension aimed to improve the organization of the mining sector and reflected the government’s intention to enhance the regulation of gold and other valuable substances. The Mines Minister did not specify the duration of the suspension but invited groups with exportable materials to contact the National Society for Precious Commodities Compensation. This decision by Burkina Faso’s military government aligns with similar measures taken by other African countries like Zimbabwe and Namibia, which have imposed bans on the export of unprocessed minerals, including lithium. While the precise impact of this decision on Burkina Faso’s economy remains uncertain, it is considered a favorable and crucial step towards assuming control over the gold mining industry. The significance of this decision can be understood by considering that gold constitutes Burkina Faso’s primary export, accounting for 37% of total exports as of 2020. Moreover, mining serves as a major source of employment in the country. Artisanal gold production alone contributes to half of the industrially produced gold in Burkina Faso, employing around one million people. However, this situation has made it easier for terrorists and jihadists to seize control of numerous gold mines, which they exploit to fund terrorism within the country. In 2022, Captain Troy highlighted the alarming issue of gold leaving Burkina Faso through fraudulent means, which further contributed to fuelling terrorism. The ongoing terrorism has resulted in the closure of four industrial mines and the abandonment of nearly 700 gold panning sites in the same year, leading to a decline in gold production. The suspension of gold exports aims to address two key objectives: cutting off a significant source of funding for terrorists and addressing challenges within the mining sector to enhance its contribution to the country’s economic development. President Ibrahim Traore’s decision to control the Burkina Faso mining sector through this suspension is a commendable move among several others he has made since assuming power.