The Minister of Economy and Finance, Aboubakar Nacanabo, and representatives of the mining companies, Lilium mining and Endeavor mining, signed this Monday, agreements allowing the State to acquire the Boungou and Wahgnion mines.

‘These agreements make it possible to put an end to the dispute between the two mining companies concerning the transaction on the mines of Boungou and Wahgnion, and for the Burkinabè State to acquire the said mines,’ reports the communications service of the Ministry of Finance.

The first signing of the agreement concerns three agreements, between the Burkinabe State and Endeavor mining: a royalty agreement, a transactional agreement and a payment agreement. With the mining company Lilium mining and its partner Vista Bank, this involves the sale of shares and shares.

For the Minister of the Economy and Finance, this is a transfer for consideration. The Burkinabè State, he indicated, must pay sixty (60) million dollars, plus royalties on a production of 400 thousand ounces, or in
total, approximately 90 million dollars to pay to acquire the Boungou mines. and Wahgnion.

Minister Nacanabo reassured the workers of the two mines that the State will take all measures to continue operations, while maintaining jobs.

The Minister of Economy and Finance, who was assisted by his colleague in charge of mines, Yacouba Zabré Gouba and the Minister Delegate in charge of the Budget, Fatoumata Bako/Traoré, underlined that the Burkinabè State has decided to involved in the management of its natural resources.

According to him, the acquisition of the two mines will make it possible to strengthen the State’s capacities in terms of natural resource management.

He also indicated that the Burkinabe state will work to exploit other mines, to further strengthen its financial situation and ensure that the mines benefit the populations, according to the Ministry of Finance.

Source: Burkina Information Agency