The acquisition follows several agreements signed between the Minister of Economy and representatives of the mining companies. The Burkinabe State will pay approximately $90 million to acquire the mines, including a $60 million purchase price and royalties.
The government has assured mine workers that operations will continue and jobs will be preserved. The acquisition is expected to strengthen the state’s capacity for managing natural resources and promote economic development.
The agreement resolves a dispute between Lilium and Endeavor regarding the sale of the mines. Endeavor had accused Lilium of failing to meet payment deadlines, while Lilium disputed the financial statements provided by Endeavor.
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