- 3,647 tonnes were produced in January 2023
- Down by 32.4% compared to December 2022 production
- Compared to January 2022 (4,432 tonnes), down by 36.0%.
- 57,675 tonnes produced in 2022 compared to 66,858 tonnes in 2021, a decrease of 13.7%.
In January 2023, industrial production of fine gold amounted to 3.647 tonnes, according to the report on the monitoring of economic and development indicators published by the Directorate General of the Economy and Planning (DGEP). This production recorded an underperformance. It is down by 32.4% compared to production in December 2022 (5,396 tonnes). Compared to January 2022 (4,432 tonnes), gold production is down by 36.0%. The reasons for this decline were not explained in the report, but it is easy to imagine that the security situation is the main reason.
As a reminder, in 2022, total fine gold production was 57,675 tonnes compared to 66,858 tonnes at the end of December 2021, a drop of 13.7%.
However, the drop in production in January 2023 was compensated for by the 5.8% increase in the price of an ounce of gold compared to December 2022, which stood at 1,897.7 US dollars. On a year-on-year basis, the gold price is up by 4.5%. The level of the gold price remains high in relation to the uncertainties in the global economy, according to the DGEP.
While the price of gold is rising, this is not the case for the dollar, which stood at 609.2 CFA francs in January 2023 compared to 619.5 CFA francs in December 2022, a depreciation of 1.7%. Year-on-year, the US dollar appreciated by 5.1% against the CFA franc. The depreciation of the US dollar is explained by the slowing down by the FED of its rhythm of increasing interest rates and the increases in interest rates, notably by certain central banks in Europe, according to the DGEP.
Elie KABORE
#Mines_Actu_Burkina
