The Burkinabè gold sector is shaken by the attack on the convoy of workers from Semafo, a Canadian mining company located in eastern Burkina.
On Wednesday 38 people were killed by armed men during an ambush about forty kilometers from the Boungou mine. On Thursday, Semafo announced the suspension of its operations until further notice.

This is not the first time that the Burkinabè gold industries have been victims of violence. The situation is worrying for the country's economy, while Burkina is the third largest gold producer in West Africa with 52 tonnes per year. The sector contributes more than 11% of Burkina Faso's gross domestic product and employs more than 1.5 million people.

The Boungou mine poured its first ingot in June 2018. Semafo intended to produce 200,000 ounces of gold per year from this year, while the mine houses reserves of around 40 tonnes. "The suspension of Semafo's activities, even temporary, sends the wrong signal, especially to foreign investors," explains Didier Julienne, commodity consultant.

A report published in 2018 by the Organization for Economic Cooperation and Development points to the insecurity that threatens the Burkinabè gold sector: in August 2018, Semafo convoys were already attacked. The following month, three foreign workers from the Inata gold mine were kidnapped in Dori, in the north of the country. In January 2019, a Canadian geologist was assassinated in Tiabangou, in the Sahel region.

"Clearly, it is the risk / return ratio that will determine the persistence or not of foreign investors", continues Didier Julienne. Today, gold prices are high, but if insecurity persists, industrialists could turn to calmer countries such as Ghana, West Africa's leading gold producer.

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