Ouagadougou: The Transitional National Assembly (ALT) adopted on Thursday the new mining code with major innovations including the obligation for mining companies to open their capital to nationals and to participate in the constitution of the national gold reserve.
The new mining code ‘requires mining companies to open their share capital to Burkinabè investors’, indicates a report consulted on Friday by the AIB.
According to the same document, mining companies must also contribute to the constitution of the gold reserve.
In addition, the law stipulates the strengthening of the powers of agents for the monitoring and control of mining activities. In this sense, the sworn agents of the mining administration now have the status of judicial police officers.
Note also that the Local Mining Development Fund becomes the Mining Development Fund.
Its resources will now be devoted to national security, patriotic support, endogenous development projects and communal plans.
The new mining code is made up of 310 a
rticles divided into 10 chapters.
Source: Burkina Information Agency