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Fortuna Mining said on Monday that the government of Burkina Faso does not plan to withdraw the Canadian company’s existing mining permits in the country.from some foreign companies and would seek to produce more of its own gold, without specifying which permits would be canceled.
Shares of gold miners with projects in the West African country slumped sharply in Monday trade at the Toronto Stock Exchange, dragging down the entire index. Shares of Fortuna Mining were down 9% at 3:25 p.m. ET . Orezone GoldCorp, which owns the Bombero gold mine, was also down 9% at the TSX. Gold miner Endeavour Mining said Traoré discussed several topics on Saturday to commemorate two years of his presidency and made a reference that certain mining permits may potentially be revoked.
However, Endeavour said the government remains supportive of the company and it is not aware of any plans to revoke any of its mining permits.Ivanhoe Mines lowers full-year copper, zinc production guidanceThe total consideration is $3 million on closing and the return of 10 million Lucara common shares initially issued as partial consideration when Lucara acquired Clara in 2018.
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