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(Special for CAFS) Burkina Faso grants mine permits to 4 foreign companies

Xinhua, January 16, 2015 Adjust font size:

Burkina Faso has granted gold mining licenses to four foreign companies, according to a statement released by the Council of Ministers Thursday.

After their meeting on Wednesday, the Council of Ministers, which is the country's cabinet, decided to grant four foreign developers Gryphon SA, Konkera SA, Hounde Gold Operation and Roxgold Sanu SA the permits.

Gold is the top commodity of the landlocked West African country. In total, the permits cover areas with a potential of mineral reserves estimated at 22,740 tons of raw gold.

Earlier, the country's transition government decided to review some mine contracts signed under the reign of former President Blaise Compaore over concerns that exploration permits were granted in opaque conditions.

Compaore was forced to resign on Oct. 31, 2014, after 27 years in power, as citizens took to the streets in protest against his attempt to amend the constitution once again with the purpose of keeping himself in power.

The military then appointed Lieutenant Colonel Isaac Yacouba Zida as provisional head of state, prompting a new wave of demonstrations to demand for military departure and the restoration of civilian rule in the country. Endite