Ouagadougou, Burkina Faso – (African Boulevard News) – The takeover of Taparko mine by Skygold Resources, a Bamako-registered limited company, is still uncertain despite the acceptance of its offer by Russian company Nordgold. The deal still has to go through several regulatory approvals, including those from Burkina Faso and Mali.
The acquisition of Taparko mine, located in the north of Burkina Faso, has been in the works for a while. Skygold Resources submitted a bid for the mine in 2021, which was later accepted by Nordgold. However, the takeover still has not been completed, dampening the company’s prospects.
Skygold’s proposed acquisition of Taparko mine is contingent upon receiving regulatory approval from the governments of Burkina Faso and Mali, which have jurisdiction over the mine. The process of obtaining regulatory approval can be lengthy and precarious as it requires a thorough evaluation of the proposed acquisition’s effects on local communities and the environment.
In addition to regulatory approval, Skygold must also obtain the consent of the mine’s other stakeholders, including the local community, employees, suppliers, and lenders. This is often a difficult process, especially in the mining industry, which is often fraught with challenges such as corruption, environmental damage, and human rights abuses.
Industry experts and analysts have been following the developments around the Taparko mine takeover closely. They say that acquiring the mine would be a significant boost for Skygold Resources, which is seeking to expand its footprint in West Africa’s mining industry.
“Taparko mine is a very lucrative asset for Skygold. However, the regulatory hurdles seem to be slowing down the process. Yet, once completed, this acquisition could catapult Skygold into a leading gold mining company in the region,” said a mining industry expert who preferred to remain anonymous.
The uncertainty surrounding the takeover of Taparko mine by Skygold Resources continues to be an interesting subject in the African mining industry. The success of the takeover could have significant implications for the global mining industry. Nonetheless, it is imperative that Skygold Resources and Nordgold continue to work with relevant stakeholders and authorities in Burkina Faso and Mali to ensure the successful completion of the takeover process.
