Canada – Canadian mining company Sarama Resources has announced it has filed for arbitration with the International Centre for Settlement of Investment Disputes (ICSID) against Burkina Faso. This follows the withdrawal of its rights to the Tankoro 2 gold mine.
The company is seeking compensation of US$242 million, up from an initial claim of approximately US$117 million.
The dispute dates back to 2023, when Burkina Faso’s Ministry of Energy and Mines informed Sarama that its mining license was being revoked. This occurred despite the company having obtained a license renewal in 2021. After its appeal to local authorities failed, the company resorted to international arbitration in December 2024.
In an official statement, Sarama said she had submitted a detailed memorandum outlining her claim, while the Burkina Faso government has yet to comment. The government is expected to submit its counter-memorandum by January 31, 2026. This is before a final timetable is established for the arbitration proceedings, which could last for years and involve significant expenses.
The dispute is considered one of the most prominent legal issues that could affect Burkina Faso’s investment attractiveness, particularly in the mining sector, where it is part of a series of similar disputes in other African countries such as Mali.
