- 11.74 tonnes of gold according to the minutes of the Council of Ministers
- 11.47 tonnes of gold according to the Minister of Mines, the Presidency of Faso and national television
- That is a difference of 27 Kg
- Worth approximately 1.036 billion FCFA
The government has authorised the granting of a licence for the industrial exploitation of a large gold mine by the company Poura Gold Operation SA. This authorisation was granted during the Council of Ministers meeting of 3 May 2023. In the minutes of the Council of Ministers, which were widely shared, it is written: “The mining permit requested covers an area of 32.59 km2 and its life span is estimated at 10 years. The average expected production is estimated at 11.74 tonnes of gold”. The publication of the production forecasts for this new mine has caused many observers in the mining sector to react. 11.74 tonnes of gold is equivalent to an average annual production of 1.174 tonnes per year, over the 10-year life of the mine.
But a difference in figures will appear in the various communications around this new operating licence.
Firstly, in the video recorded and sent by the government communication services (https://we.tl/t-N4WRDpYD1X), the Ministry of Mines, Simon Pierre Boussim, informs that the production would be 11.47 tonnes of gold during the 10 years of exploitation.
Secondly, during the news on Burkina Faso’s national television, the presenter announced 11.47 tonnes of gold.
Thirdly, the Facebook page of the Ministry of Mines (https://m.facebook.com/story.php?story_fbid=pfbid0ksrGnboDmAfodRNLm2teX9BrnAB2R7JmzTJrPaSokAym9vH3NkQrefc6JJhg8LEnl&id=100064764636910&mibextid=Nif5oz) gives the figure of 11.47 tonnes of gold.
Fourthly, it is the Facebook page of the Presidency of Faso (Présidence du Faso: https://m.facebook.com/story.php?story_fbid=pfbid0rakqFT1EtGzCgbpCkNQsYfugWKcxfiUErjiAZ1taMdPSqYdhoo6RuYbwwzJ46DsCl&id=100064930234756&mibextid=Nif5oz) that closes the series of 11.47 tonnes of gold in an article that summarises the essence of the Council of Ministers.
The difference between the two figures is enormous. It is 27 kg of gold. If we consider the price of an ounce of gold on the day of the Council of Ministers meeting at 2,012.42 USD per ounce and the dollar at 592.93 FCFA, the value of the 27 kg of gold would be 1.036 billion FCFA.
As a reminder, the company Poura Gold Operation SA is a mining company under Burkinabe law, created by the company Poura Ressources Limited. The permit is located in the communes of Poura and Fara, Balé province, Boucle du Mouhoun region. In terms of spin-offs, this project will generate revenue of 51.351 billion FCFA for the state budget and will create 366 jobs, including 232 direct jobs and 134 indirect jobs,” according to the minutes of the Council of Ministers.
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