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Burkina Faso to produce 39.6 tons of gold in 2016: official

Xinhua, September 23, 2016 Adjust font size:

Burkina Faso anticipates 39.6 tons of gold production in 2016, an official said Thursday.

Alfa Oumar Dissa, minister of energy, mines and quarries, revealed this in Ouagadougou, where the first edition of the West African mining operation Week (SAMAO) opened on Thursday.

Gold accounts for over 12 percent of the West-African country's gross domestic product (GDP). Its gold output in 2014 stood at 36.5 tons.

Dissa said the country has today over 822 valid mining permits and titles as well as nine gold producing mines.

Since 2009, gold has replaced cotton to become the leading export product of the Sahelian country of about 19 million population.

Figures from the Permanent secretary of Extractive Industries Transparency Initiative (EITI) reveal that 285 municipalities hosting mining operations gained, in terms of taxes, 1.6 billion CFA Francs in total, about 2.7 million U.S. dollars, last year in Burkina Faso.

Dissa said the country in 2015 adopted a new incentive mining code to promote win-win partnership in mining operations so as to sustain social and economic development. Endit