I really wish you would ask real questions.
Russia already got 85% of a mining deal on Burkino. Im not a fan of that. All Russia ever gives is military aid and training to Africa, never anything tied to sustainability.
Now what they are giving is propaganda cover that a lot of folks here are buying. They back Africa Stream channel on IG. I have zero trust for them because when the rubber meets the road, its their Wagner Group who are in Burkino.
New masters.
"Burkina Faso has granted a mining lease to Russia for a gold project expected to produce over 20 metric tons of gold in eight years and contribute around $89 million to the state.
Despite Traore's stated effort to reduce foreign control of gold resources, the country still gave up gold to Russia. Nordgold will hold an 85% stake while the state retains 15%.
"The Council of Ministers adopted a decree granting an industrial mining licence for a large gold mine called Niou to the company Nordgold Niou," the government minutes said.
The licence covers 52.8 square kilometres of land, with total expected production estimated to exceed 20.2 tonnes of gold over eight years, the minutes said.
The project is estimated to contribute 51 billion CFA francs ($88.7 million) to the state coffers, with another seven billion francs ($12.2 million) going towards the Mining Development Fund, the document said.
"The project will create 204 jobs, including 75 direct jobs and 129 indirect jobs," the minutes said"
Burkina Faso has granted a mining lease to Russia for a gold project expected to produce over 20 metric tons of gold in eight years and contribute around $89 million to the state.
Despite Traore's stated effort to reduce foreign control of gold resources, the country still gave up gold to Russia. Nordgold will hold an 85% stake while the state retains 15%.
"The Council of Ministers adopted a decree granting an industrial mining licence for a large gold mine called Niou to the company Nordgold Niou," the government minutes said.
The licence covers 52.8 square kilometres of land, with total expected production estimated to exceed 20.2 tonnes of gold over eight years, the minutes said.
The project is estimated to contribute 51 billion CFA francs ($88.7 million) to the state coffers, with another seven billion francs ($12.2 million) going towards the Mining Development Fund, the document said.
Burkina Faso's ruling military junta has granted a new gold mining licence to the Russian firm Nordgold, according to the minutes of a cabinet meeting seen by AFP on Friday.
www.barrons.com