Burkina Faso: Authorities suspend export permits for artisanal precious commodities

Burkina Faso's military junta has announced the immediate suspension of export permits for artisanal and semi-mechanised gold and other precious commodities. The decision aims to clean up the sector and enhance the organization of gold and precious substance marketing. The duration of the export permit suspension has not been specified. Mining groups with materials for export are instructed to contact the National Society for Precious Commodities (SONAP) for compensation. Burkina Faso heavily relies on gold exports, accounting for 37% of total exports in 2020, but security challenges and political instability have impacted the mining industry.