Ouagadougou: The Burkinabe government announced the transfer of former mining assets from several companies to the Burkina Mining Participation Company (SOPAMIB) for optimal exploitation aimed at benefiting the population during the Council of Ministers meeting on Wednesday.

According to Burkina Information Agency, the Council adopted a decree that facilitates the transfer of mining assets from Wahgnion Gold SA, SEMAFO Boungou SA, Ressources Ferk© SARL, Gryphon Minerals Burkina Faso SARL, and Lilium Mining Services Burkina Faso SARL to SOPAMIB. The decision is part of the government's strategy to ensure sovereign control over the country's mineral resources.

The report highlighted that the Burkinabe State acquired these assets on August 24, 2024, through a direct transfer of shares and corporate units from Endeavour Mining and Lilium Mining. This move aligns with the State's policy to harness mineral resources for the collective benefit of the population.

The document further clarified that the transfer complies with Law No. 016-2024/ALT, enacted on July 18, 2024, which pertains to the Mining Code of Burkina Faso. The policy underscores a commitment to optimizing resource management in a manner that serves national interests.