Semafo

    Work begins at Burkina Faso gold mine


    '25-MAY-07 07:00'



    Ouagadougou


    - Canadian company


    Semafo


    has begun work in western Burkina Faso on a mining site where gold


    reserves have been estimated at more than 7.1 million tonnes, a


    government official said Thursday.



    Semafo, with the Burkina Faso government as a 10 percent stakeholder


    in the company, began construction on Monday in Mana, with work


    expected to be completed in a year, said Silvain Domboue, an official in the Ministry of Mines.



    The company is to invest some 35 billion CFA francs ($71.8mn) in


    Burkina Faso up to the exploitation phase of the project, including the cost of construction.



    Burkina Faso awarded the mining permit to Semafo in February for an eight-year period.




    The exploitation of the mine is expected to generate 500 jobs and result in 2.3 billion CFA francs ($4.7mn) in tax revenue, according to the Ministry of Mines.


    Burkina Faso announced it would relaunch mining activity last year to compensate for low prices in the cotton market. The country is Africa's leading cotton producer.


    The government had halted mining activity more than a decade ago after a collapse of some metal prices, including gold.


    It has also awarded gold-mining permits to a subsidiary of Canadian company Goldbelt Resources Ltd. and High River Gold, which is Canadian as well. -AFP

    Gogh, deine Liebe zu Africa, kannst es nicht lassen.
    Bei dem Preis heute stocke ich aber auch auf. :D
    Die blonde da oben sitzt auch am Stockerl. :P


    ""Die kompletten Hedges bedeuten 1,5 +15,0 +12,0 = knapp 30,0 Mio$ Verlust 8o


    Deswegen ein Verdikt? :rolleyes:


    Immer sachte mit den jungen Pferden. =)


    Ps; Den Salsa mit GRZ und KRY habe ich genossen und mitte April den Tanz abgebrochen......Hallo Ulfur :D... you all have a nice weekend.

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