Until Tuesday 27th August 2024, the Boungou and Wahgnion gold mines in Burkina Faso were owned by an African mining company. However Ouagadougou has agreed a deal to nationalise the mines for around $80 million.<\/p>\n
Endeavour Mining, which agreed to sell Boungou and Wahgnion to Lilium last year for more than $300 million, had accused its rival of missing payments. Meanwhile Lilium argued that London-listed Endeavour had misrepresented and hidden financial information about the mines.<\/p>\n
However as part of Tuesday’s agreement, the companies are to abandon their legal cases against each other.<\/p>\n
Endeavour said it would ‘like to thank the Government of Burkina Faso for its mediation efforts’; Lilium and Burkina Faso’s junta have not commented.<\/p>\n
The nationalisation follows a growing pattern of African governments, especially those under military juntas, attempting to exert greater control over their natural resources.<\/p>\n","protected":false},"excerpt":{"rendered":"
Until Tuesday 27th August 2024, the Boungou and Wahgnion gold mines in Burkina Faso were owned by an African mining company. However Ouagadougou has agreed a deal to nationalise the mines for around $80 million. Endeavour Mining, which agreed to sell Boungou and Wahgnion to Lilium last year for more than $300 million, had accused […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":24,"jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"1","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_featured":"1","show_post_meta":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","number_popup_post":"1","show_post_related":"1","show_inline_post_related":"1"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","source_name":"Africa News"},"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[3028,27],"tags":[3058,208,256,3059],"class_list":["post-13120","post","type-post","status-publish","format-standard","hentry","category-mining","category-west-africa","tag-boungou","tag-burkina-faso","tag-ouagadougou","tag-wahgnion"],"_links":{"self":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/13120","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/comments?post=13120"}],"version-history":[{"count":0,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/13120\/revisions"}],"wp:attachment":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media?parent=13120"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/categories?post=13120"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/tags?post=13120"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}