Latest news with #BurkinabeGovernment
Russia Today
14-05-2025
- Politics
- Russia Today
Burkina Faso and Russia enter new phase of partnership – African state's leader
Russia and Burkina Faso are entering a new phase of strategic cooperation, particularly in defense, education, and commerce, the African nation's interim president, Ibrahim Traore, has said. Speaking to RT, the Burkinabe leader emphasized that collaboration between the two countries has significantly expanded across multiple sectors over the past two years. Traore noted that one of the most promising areas of cooperation is scientific education, especially in disciplines such as mathematics, physics, and chemistry. He also revealed that there is growing interest in Russian higher education among Burkinabe students, many of whom are already studying at universities across Russia. 'I even asked that we increase the number of students here, perhaps through scholarships,' he stated. On the economic front, Traore explained that the relaunch of relations with Russia, which had significantly declined following the death of former Burkinabe President Captain Thomas Sankara, is already yielding practical benefits. Products such as mangoes, which previously passed through European intermediaries, are now being exported directly to Russia. Other goods, such as cotton, are expected to follow. 'This is a new relationship that is beginning,' Traore said. He also underscored Russia's role in supporting agricultural and domestic control over Burkina Faso's mineral wealth, particularly through education. He credited ongoing collaboration with Russia's Ministry of Education for helping train engineers and technicians to operate and maintain new industries. 'Machines are what make the world go round,' he said, noting that Russia's scientific capacity, from military to digital technologies, remains highly relevant for Burkina Faso's development goals. Traore also described ongoing health support for internally displaced persons in Burkina Faso, citing previous wheat donations from Russia as an example of effective assistance. However, he noted that his country is now shifting from reliance to self-sufficiency. 'We made a promise to President [Vladimir] Putin that we no longer want to be supplied with wheat because we will produce the wheat,' he stated. The Burkinabe interim president was among more than two dozen world leaders who attended the World War II Victory Day celebrations in Moscow's Red Square on May 9, which featured thousands of troops and advanced weaponry. Traore met with Putin on the sidelines of the event to discuss security and counter-terrorism in the Sahel.
Yahoo
07-05-2025
- Business
- Yahoo
Fortuna Mining explores investments in Guinea for gold mining opportunities
Fortuna Mining is reportedly exploring new opportunities in Guinea following its strategic exit from Burkina Faso, where it faced regulatory instability and high security costs. The Canadian mining company, currently not established in Guinea, is actively conducting site visits and engaging with local authorities to seek gold mining prospects, according to a report by Reuters. Fortuna CEO Jorge Ganoza was quoted by the news agency as saying: "We find Guinea to be a place we would invest today.' A portion of the company's increasing exploration budget is earmarked for Guinea, where Ganoza sees 'a lot of room for discovery'. This move underscores the shifting dynamics in West Africa's mining landscape, where military-led governments are revising mining codes and grappling with jihadist threats. Burkina Faso, along with Mali and Niger, has experienced military coups since 2020, leading to new mining codes aimed at bolstering local control. These countries have also taken assertive measures against foreign mining companies, including arrests and asset seizures. In contrast, Guinea, under military rule since a 2021 coup, has not revised its mining code but has exerted pressure on foreign companies regarding project timelines. "We don't see the same situations as we see today in Mali or Burkina Faso or Niger," Ganoza added. Fortuna's recent departure from Burkina Faso involved selling the Yaramoko gold mine for $130m (C$179.32m), despite losing an estimated 70,000oz of gold production. Ganoza described the sale as 'a very compelling offer', given the mine's dwindling reserves and the $7m annual security costs incurred due to jihadist threats. The company had to adopt a 'complete fly-in, fly-out basis for all personnel' in Burkina Faso, with ground transportation deemed too risky. Moreover, Ganoza criticised the Burkinabe Government's demand for up to 30% state participation in mining companies as part of the new mining code implemented in July 2024, which he believes is not competitive, the report said. Fortuna's withdrawal from Burkina Faso follows a similar move by Endeavour Mining last year. Globally, Fortuna is boosting its exploration and project development investment to $51m this year, up from $41m in 2024. Besides Guinea, the company is focusing on Senegal's Diamba Sud gold project and expanding its operations in Ivory Coast, where its flagship Seguela gold mine is situated. "Fortuna Mining explores investments in Guinea for gold mining opportunities" was originally created and published by Mining Technology, a GlobalData owned brand.
