Wednesday, 2nd July 2008 (356 views)

Burkina Faso has announced the opening of a third gold mine this year, according to Reuters.

The Mana mine is expected to produce 3.6 tons of gold per year and is to be operated by Semafo.

Exploration by the Toronta-based company in 1998 found an estimated reserve of 35 tonnes, the news agency said. Since March 31 2008, Mana has produced 400 kilos of gold.

Mining officials told Reuters that total reserves in the mine could be as high as 100 tonnes.

Mines, Quarries and Energy Minister Abdoulaye Abdoulkader Cisse said: "Exploitation of the Mana mine will bolster the state's budget by an average of 15.5 billion CFA francs (£18.78 million) per year, in mine royalties and taxes, to which dividends will be added."

Also in Burkina Faso are the Taparko-Bouroum mine which is owned by High River Gold Mines and the Youga mine which is operated by Etruscan Resources.

In October another gold mine is set to be opened in Kalsaka, reported Reuters.

The capital of Burkina Faso is Ouagadougou. The country was given its name in 1983 and translates as "land of honest people".

 

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