NXS.V - Six Gold Mines are in Production ..... Fast Facts - French-speaking
- Pop. 17 million
- Democratically elected government
- Modern mining codes with clear taxation policies
- Ranked 2nd in Africa and 13th overall for Current Mineral Potential in The Fraser Institute of Canada’s “2011/2012 Survey of Mining Companies”
The mining industry in Burkina Faso is growing at a rapid rate due to a combination of a stable elected democratic government, excellent geology and a competitive fiscal regime. Currently six gold mines are in production or development in Burkina Faso (Essakane – IAMGOLD Corporation; Mana – SEMAFO; Inata – Avocet Mining PLC; Youga – Endeavor Mining; Taparko – High River Gold Mines Ltd.; and Kalsaka – Amara Mining PLC). Gold mining production doubled between 2009 and 2010, and in 2012, Burkina Faso became the fourth largest gold producing country in Africa. The country has legislated low taxes with a corporate tax rate of 20% for mining companies. The government is entitled to a 10% free carried interest and a competitive 3-5% sliding royalty on gold production.
Nexus Gold Corp