Militant violence in Burkina Faso, Niger and Mali has increased in recent years despite the presence and interventions by United Nations, regional and Western troops.
Canada’s Endeavour Mining (TSX: EDV), West Africa’s top gold producer, has also been the subject of attacks in Burkina Faso. Its Boungou mine, previously owned by Semafo, was ambushed in 2019 resulting in 37 deaths and over 60 people injured.
The same year, Canadian geologist Kirk Woodman was kidnapped and killed. His body was found in rural Burkina Faso. He was the ninth Canadian killed in the West African country since 2016.
Essakane is IAMGOLD’s flagship mine, in production since 2010. The company recently revised production guidance for the asset to between 390,000 and 400,000 ounces of gold from the 365,000 to 390,000 ounces previously expected.
