West African Resources has reached a significant milestone at its Kiaka gold project in Burkina Faso by successfully producing its first gold bar weighing 5.7 kilograms, or about 183.3 ounces, during an on-site smelting operation.
The Australian-listed company announced that this achievement came ahead of schedule and below budget, signaling a promising beginning for what is expected to become one of the region’s largest gold mines.
Miningmx reported that West African Resources’ Executive Chairman Richard Hyde called the initial gold pour from Kiaka “a major milestone” in the company’s ambition to produce more than 500,000 ounces of gold annually by 2030.
“First gold comes just three and a half years after the acquisition of Kiaka, which is a remarkable achievement,” Hyde said.
He expressed his appreciation for the construction team, financial partners Sprott and Coris Bank, contractors, and all stakeholders who contributed to the project.
In November 2021, West African acquired a 90% stake in the Kiaka Gold Project from B2Gold Corp and its partner GAMS-Mining F&I, with the remaining 10% owned by the Government of Burkina Faso.
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Construction at the site was completed in the second quarter of 2025, keeping to the company’s aggressive timeline.
The first gold pour not only demonstrates the Kiaka mine’s readiness for operation but also reinforces investor confidence in West African Resources’ capacity to deliver results in one of Africa’s most promising yet geopolitically challenging mining regions.
Burkina Faso is undertaking comprehensive reforms in its gold sector to increase state control, boost revenue, and ensure greater national benefit from its resources.
Gold plays a central role in the country’s economy, making up about 80% of export earnings and nearly 14% of GDP.
However, much of the wealth has historically slipped from government hands due to foreign ownership, weak regulation, and illegal exports.
In July 2024, the government amended its mining code to increase the state’s free equity in new projects from 10% to 15%, with an option to buy an additional 15%.
The reforms also require higher Burkinabè ownership and reduce permit durations to improve oversight.
Companies must now contribute to national gold and mining development funds and process part of their output domestically to retain more value within the country.
Several major mines have been nationalised through SOPAMIB, a new state-owned company created to consolidate government control over key gold assets.
A national gold refinery is also under construction in Ouagadougou to lessen dependence on foreign processing and enhance export transparency.
Additionally, the government has temporarily suspended small-scale export permits to combat illegal trade.
These initiatives represent a strategic move toward economic sovereignty, with Burkina Faso aiming to transform its gold resources into sustainable national development.
If successful, this approach could offer a blueprint for other resource-rich African countries.
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Image Credit: CediRates
