2024-08-27 11:33:26
from August 26, 2024 The Burkina Faso state now has two mining companies, namely Lilium Mining and Endeavour Mining. This information was confirmed by the Minister of Economy and Finance, Dr. Aboubakar Nakanabo, who signed the agreements in Ouagadougou. According to a press release from the ministry, these agreements bring to an end the dispute between the two mining companies regarding the deal for the Boungou and Wahgnion mines and make it possible for the Burkina Faso State to acquire the aforementioned mines. For the minister, this is a considered maneuver. He indicated that the Burkina Faso State must pay US$60 million, plus royalties for 400,000 ounces of production, for a total of approximately US$90 million, to acquire the Boungou and Wahgnion mines. It is noteworthy that this first signing of the agreement involves three agreements between the Burkina Faso State and Endeavour Mining: a royalty agreement, a transaction agreement and a payment agreement. Together with the mining company Lilium Mining and its partner Vista Bank, this involves the sale of shares and shares. Dr. Aboubakar Nacanabo assured workers at both mines that the state would take all measures to continue operations while maintaining employment. He also said the Burkinabe state was committed to developing other mines, further strengthening its financial position and ensuring that the mines benefited the population.
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