Burkina Faso demands 40% stake in successful Kiaka gold mine
Quidah is an online platform that connects investors with curated opportunities and expert insights on Africa’s emerging markets, while offering businesses promotional services, partnership facilitation, and market intelligence to attract capital and grow their operations.
Industries
In April 2026, Burkina Faso demanded an increase in its stake in the Kiaka gold mine from 15% to 40%. The move was announced after the mine began production in 2025, achieving its first gold pour just three and a half years after its acquisition.
The move aligns with new mining legislation and a government decree to strengthen state control over mining. The move was in line with the country's decision, under a military-led government headed by Captain Ibrahim Traoré, to expand state control over the mining sector through a decree adopted by the Council of Ministers, in line with mining legislation introduced in 2024.
B2Gold Corp. and its partner, GAMS-Mining F&I, sold 90% of the Kiaka Gold Project in Burkina Faso to West African Resources in November 2021. The Burkina Faso government owns the remaining 10%. In keeping with its ambitious project timeframe, the business finished work at the site in the second quarter of 2025.
The first gold pour took place in June 2025 after the Kiaka gold production center's development was finished in 2025, according to its 2025 report. The first gold bar poured for Kiaka, weighing 5.7 kg (183.3 troy oz), was recorded as a major milestone for the project.
"First gold comes just three and a half years after the acquisition of Kiaka, which is a remarkable achievement," West African Executive Chairman Richard Hyde stated. "First gold at Kiaka is a major milestone for West African Resources, and a key step towards our target of being a +500,000 ounces per annum gold producer by 2030," he added.
Kiaka produced 95,155 ounces of gold in 2025 from 3,914 kt of ore, with an average head grade of 0.8 g/t and 91.3% recovery. The Kiaka processing plant activities began in Q3 2025, marking the start of commercial operations at the mine.
Burkina Faso's push to increase its stakes in the Kiaka Gold Mine began in August 2025, when the Junta Government expressed its interest in acquiring, for paid consideration, an additional 35% equity interest. Following that announcement, in August of 2025, the State of Burkina Faso reduced WAF's equity interest from 90% to 85% as Burkina Faso increased its free carried equity interest from 10% to 15%.
By April 2026, WAF had been informed by Burkina Faso that the country intends to increase its ownership of the Kiaka gold mine from the 15% previously agreed upon to 40%. Following the announcement, the company suspended trading in its shares on the Australian Securities Exchange.
