Since Captain Ibrahim Traore assumed leadership in 2022, Burkina Faso has made $18 billion from gold production.
Despite being Africa’s fourth-largest gold producer for years, Burkina Faso had no domestic gold refinery prior to Traore’s presidency.
Burkina Faso was forced to export raw gold, missing out on the added value and jobs that come with refining.
That changed in 2024, when Burkina Faso proudly commissioned its first-ever gold refinery, marking a new era of self-reliance and economic independence.
President Traore’s administration has also moved swiftly to reclaim national control over the country’s precious resources.
In 2024, two gold mines previously controlled by a British mining company were seized and brought under state authority.
The move was part of a larger effort that saw a total of five foreign-operated gold mining assets transferred to full state ownership under Traore’s rule.
Traore’s reforms form part of a broader strategy by the young leader to reclaim Burkina Faso’s wealth and redirect it to benefit the people.
