Burkina Faso wants 40% stake in gold mine after company projects up to 490,000 oz in 2026

By Olamilekan Okebiorun Business Insider Africa, New York Saturday, April 18, 2026 Australian gold producer West African Resources Ltd. suspended trading in its shares on the Australian Securities Exchange on Friday, as investors weighed a government move in Burkina Faso that could significantly reshape ownership of one of West Africa's largest gold projects. The trading halt, requested by the company, will remain in place until the earlier of a market update or April 21, 2026, as it prepares to respond to a decree by the government of Burkina Faso that could lift the government's stake in the Kiaka gold mine to 40%. ... Dispatch continues below ... ... ADVERTISEMENT ... USA Gold: Coins and Bullion Since 1973 USAGold, well known for its internet site, USAGold.com, offers contemporary bullion coins and bullion-related historic gold coins for delivery to private investors in the United States, Europe, Canada, Australia, and New Zealand. It is one of the oldest and most respected names in the gold industry, with thousands of clients and an approach to investment that emphasizes guidance and individual needs over high-pressure sales tactics. The firm's zero-complaint record at the Better Business Bureau makes it an ideal match for the conservative, long-term investor looking for a reliable contact in the gold business. Please call 1-800-869-5115x100 and ask for the trading desk, or visit: http://www.USAGold.com USAGold: Great prices, quick delivery -- all the time. Burkina Faso's move follows a recent decision, under a military-led government headed by Capt. Ibrahim Traore, to expand state control over the mining sector through a decree adopted by the Council of Ministers, in line with mining legislation introduced in 2024. The proposed 40% stake builds on signals since August 2025 that the government intends to raise its interest in the Kiaka gold mine to as much as 50%, after increasing its holding from 10% to 15% at no cost. At the time West African Resources Ltd. had valued a 5% stake increase at $33.4 million. ... ... For the remainder of the report: https://africa.businessinsider.com/local/markets/burkina-faso-tells-australian-miner-it-wants-40-stake-in-gold-mine-after-company/e54m0hx * * * Support GATA by purchasing Stuart Englert's "Rigged" "Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon: https://www.amazon.com/Rigged-Exposing-Largest-Financial%20-History/dp/1651405204/ref=sr_1_fkmr1_2?keywords=rugged+stuart+englert&qid=1579708888&sr=8-2-fkmr1 * * * Help keep GATA going: GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: http://www.gata.org To contribute to GATA, please visit: http://www.gata.org/node/16 Donations of US$500 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work: https://www.gata.org/sites/default/files/GATA-silver-round-front.png