Violence in Africa's Sahel region attacks the mining food chain

Feb 10 15:02 2020 Print This Article

* Mining companies, employees have been targeted by


* Mining contributes 15% of Burkina Faso government's budget

* Slowing exploration could hurt future production

* Security costs rising

* Low production costs remain a draw for gold miners

By Helen Reid

CAPE TOWN, Feb 10 (Reuters) - Violence in Africa's Sahel

region has driven mining exploration companies to put projects

on hold, with knock-on effects for an industry struggling to

expand and for fragile local economies.

At least 37 people died and 60 were wounded last November

when militants attacked a convoy of Semafo Inc

employees, the deadliest attack yet on a mining company in the


Islamist groups have been pushing south from strongholds in

northern Mali and carried out attacks across much of Burkina

Faso and parts of western Niger.

As security costs have risen, mining companies that explore

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Established in February 2008, Sprott Money Ltd. is a leading precious metals wholesale, institutional and retail dealer selling gold, silver and platinum bars, coins and wafers online and over the phone. Sprott Money's storage program gives clients the ability to store their precious metals in multiple storage facilities located in Canada, the United States and internationally. Sprott Money Blog, which covers world events, geopolitics and of course precious metals.

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