Between January and September 2022, total fine gold production amounted to 43.651 tonnes. It is down by 13.4% compared to the same period in 2021. The data published by the General Directorate of Economy and Planning (#DGEP) explains this drop by the cessation of production by the mining companies SOMITA, SAMTENGA, BOUERE and BMC, among others.
Gold production in the third quarter of 2022 (July to September 2022) amounted to 13,210 tonnes, down by 14.4% compared to the second quarter of 2022 and by 21.2% compared to production in the third quarter of 2021.
In September 2022 alone, industrial gold production amounted to 4,913 tonnes, up 14.5% compared to August 2022 but down 9.1% compared to September 2021.
The state budget is likely to feel the cost of this decline, as in September 2022 the price of gold fell by 4.5% compared to August 2022, to 1,685.4 USD. Over the year, the decline is 7.1%. Overall, the average price of gold in the third quarter of 2022 was 1,729.9 USD, down 7.7% on the previous quarter and 4.0% on the same quarter a year earlier. The level of the gold price remains high in line with the uncertainties in the global economy, reassures the #DGEP.
Elie KABORE
#Mines-actu-Burkina
