How Ibrahim Traoré Made Burkina Faso $18 Billion from Gold Revenue
Burkina Faso Sees $18 Billion Gold Revenue Under Ibrahim Traoré, Ending Foreign Monopoly.
Burkina Faso has reportedly earned $18 billion from its gold mines since Captain Ibrahim Traoré assumed office in 2022, marking a dramatic shift from the country’s previous mining revenue structure.
Before the transition of power, Burkina Faso was earning approximately $1 billion annually from gold exports, largely controlled by foreign-owned corporations. However, under Traoré’s leadership, the state has asserted greater control over its natural resources, resulting in a nearly eighteen fold increase in national gold revenue over just three years.
The shift aligns with Traoré’s nationalist economic policies, which emphasize resource sovereignty, reduced foreign dependency, and a restructuring of mining contracts. According to local sources, the government has renegotiated or reclaimed key mining operations, placing more revenue directly into state hands.
Gold is Burkina Faso’s top export and a critical source of foreign exchange. The country ranks among Africa’s leading gold producers, with mining accounting for over 70% of export earnings.
Critics argue that the centralization of mining could deter foreign investment, but supporters say it is a necessary correction to decades of unequal agreements that left the country’s vast mineral wealth underexploited by locals.
Burkina Faso’s new mining policy is also being watched closely by other West African nations exploring ways to reclaim control over their natural resources.
Burkina Faso Gold Production
1990 – 2024 | Yearly | kg | U.S. Geological Survey
Key information about Burkina Faso Gold Production
- Burkina Faso Gold Production was reported at 60,000.000 kg in Dec 2024.
- This records an increase from the previous figure of 57,000.000 kg for Dec 2023.
- Burkina Faso Gold Production data is updated yearly, averaging 6,033.000 kg from Dec 1990 to 2024, with 35 observations.
- The data reached an all-time high of 67,126.000 kg in 2021 and a record low of 209.000 kg in 2002.
- Burkina Faso Gold Production data remains active status in CEIC and is reported by U.S. Geological Survey.
Source: Daniel Tiruneh | U.S. Geological Survey
