INTRODUCTION
In 1991 Liberalisation of the Economy based on the principles of free enterprise led to a very attractive proposition for investors in the mining sector.
The mineral potential
• Substances of mines
Gold: All over the national territory
Diamond: Indices in alluvium and ultra basic rocks
Zinc: massive Sulphur deposit at Perkoa, 6 million tonnes of ore at 18% Zn and 20 g/t Ag;
Manganese: deposit at Tambao, 19 million tonnes of ore at more than 52% of Mn;
• Other substances: nickel, copper, phosphates, lead, antimony.
• Quarry Substances: Syenite, gabbro, pink granite, kaolin, limestone, silica sand, etc.
• Geological information
- Existence of 13 geological maps at 1/200,000 and another geological and mining map at 1/1,000,000 of the country;
- Existence of an active geological and mining documentation center and a
computerized mining cadastre.
• Legislation and Regulation
- Adoption of a new mining code in May 2003
- Application texts of the adopted mining code
Benefits of the mining act
1. Favorable tax treatment for research, preparatory work, exploitation;
2. Tax on Trade and Industry Profits (BIC) of mining sector that is indexed on Common law reduced by ten points: 20% and exempt in the research phase or preparatory work;
3. Tax on income from securities (IRVM) is indexed on common law reduced by half: at 6.25% and is exempt in the research phase and preparatory work;
4. Custom Law: single rate calculated for all imports for research and mining fell from 11.5% to 7.5% and during the period of preparatory work to 2.5%;
5. Extension of benefits granted to mining companies and to their sub - contractors (on presentation of contract).
Mines in Production
| GOLD DEPOSITS |
COMPANY |
EXPECTED PRODUCTION |
INVESTMENT
(IN MILLIONS) |
OFFICIAL PRODUCTION DATE |
TAPARKO/BOUROUM
(Namentenga)
|
Somita (HRG) |
35 tons of gold metal |
FCFA-60,000
Euro-89.28 |
8th October 2007 |
YOUGA
(Boulgou) |
Burkina Mining Company
(ETRUSCAN)
|
25 tons of gold metal |
FCFA-46,000
Euro- 68.45 |
16th May 2008 |
WONA-FOBIRIMANA
(Balé)
|
SEMAFO-BF
(SEMAFO) |
35 tons of gold metal |
FCFA-60,000
Euro-89.28 |
30th June 2008 |
KALSAKA
(Yatenga)
|
KALSAKA Mining
(CLUFF MINING) |
20 tons of gold metal |
FCFA-626,000
Euro-931.54 |
30th October 2008 |
|