Post #247

🪙Let's Chip in, Gentlemen! Burkina Faso turns even more resource nationalist than it seemed to be. 🌐 The Cabinet of Ministers of Burkina Faso has once againfound budget hole in the mining sector. This time, it turned out that about $55 million that mining companies were supposed to contribute for environmental restoration was never paid. 🔸 Operators in the mining sector owe more than 31 billion CFA francs, or about 54.8 million dollars, to the Mine Rehabilitation and Closure Fund (FRFM) for 2023-2024. In 2023, only 29.59% of contributions was collected, and in 2024 the figure reached 49.55%. ⏩ Skeptics may say that the government of Burkina Faso has simply twisted the numbers somewhere and is now demanding the last pennies from poor companies. But it is not a matter of sophisticated accounting. Most companies just didn't pay a single cent into the fund. 🔸 In 2023, only 3 industrial miners made contributions to the fund, while the rest paid nothing. In 2024, 7 mining companies have already made their contributions. One can suggest that the companies were so negligent in 2023 counting on the expected change of Burkina Faso's new sovereign regime, which, to their dismay, did not happen. Now they must start operating in a civilized way - or leave. Devils Below