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West African Resources has achieved a major milestone at its Kiaka gold project in Burkina Faso, successfully producing its first gold bar measuring 5.7 kilograms, or approximately 183.3 ounces—during an on-site smelting process.
The Australian-listed company confirmed the development came ahead of schedule and under budget, marking a strong start to what is projected to become one of the region’s most significant gold operations.
According to Miningmx, West African Resources Executive Chairman Richard Hyde described the first gold pour from the Kiaka mine as “a major milestone” in the company’s goal to produce over 500,000 ounces of gold annually by 2030.
“First gold comes just three and a half years after the acquisition of Kiaka, which is a remarkable achievement,” Hyde said, expressing gratitude to the construction team, financial partners Sprott and Coris Bank, as well as contractors and stakeholders for their contributions.
In November 2021, West African acquired a 90% stake in the Kiaka Gold Project in Burkina Faso from B2Gold Corp and its partner, GAMS-Mining F&I. The remaining 10% is held by the Government of Burkina Faso.
The company completed construction at the site during the second quarter of 2025, keeping pace with its aggressive project timeline.
The inaugural gold pour not only signals the operational readiness of the Kiaka mine but also reflects investor confidence in West African Resources’ ability to deliver in one of Africa’s most promising, yet geopolitically complex, mining jurisdictions.
Burkina Faso’s move to secure gold and raise revenue
Burkina Faso is reshaping its gold sector through sweeping reforms aimed at increasing state control, boosting revenues, and ensuring that more benefits stay within the country.
Gold is central to the nation’s economy, accounting for around 80% of export earnings and nearly 14% of GDP. However, much of this value has historically escaped government capture due to foreign ownership, weak regulation, and illicit exports.
In July 2024, the government revised its mining code to raise the state’s free equity in new projects from 10% to 15%, with an option to acquire an additional 15%. It also mandated greater Burkinabè ownership and shortened permit durations to strengthen oversight. Companies are now required to contribute to national gold and mining development funds, as well as process part of their output domestically to retain more value in-country.
The state has also taken over several major mines through SOPAMIB, a new state-owned company, consolidating national control of key gold assets.
Additionally, a national gold refinery is being built in Ouagadougou to reduce reliance on foreign processing and improve export transparency. Small-scale export permits have been temporarily suspended to curb illegal trade.
Together, these measures mark a strategic shift toward economic sovereignty, with the government aiming to convert its gold wealth into long-term national development. If successful, Burkina Faso’s approach could serve as a model for other resource-rich African nations.
