Attack on Canadian mining firm in Burkina Faso threatens gold’s final frontier

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But in a presentation of securities this week in Canada, the Montreal-based company, Semafo, characterized two attacks against its workers in Burkina Faso previous year "as part of an increase in similar incidents carried out by bandits or terrorists".

Montreal-based gold miner Semafo Inc. says it has suspended operations at its Boungou mine in Burkina Faso a day after 37 people were killed and 60 wounded in an ambush on their way to the site.

Col. Saidou Sanou, the region's governor, gave the provisional casualty toll in a statement.

There is no danger to the mine itself at the moment, the company has said meanwhile.

Semafo was quick to release a statement saying that the mine "remains safe and our operations have not been affected", but the movement in SMF stock today clearly shows that investors are anxious about the future of operations in Burkina Faso. Last year, an employee and subcontractor died after a bus was targeted by bandits, according to Canadian Press.

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The SEMAFO convoy was attacked by unidentified gunmen some 40km from one of its mines in the Est region, despite having an escort of local security forces.

Canada condemns today's terrorist attack against a convoy of Burkinabè workers of the Canadian mining company SEMAFO.

Semafo said Thursday it continues to work with all levels of authorities on the safety and security of those working for the company. There was no immediate claim of responsibility, but Islamic extremists have staged dozens of attacks on churches and public officials across the north of Burkina Faso the last few years.

Reiterating the UN's commitment to supporting nation, engulfed by violence, the Secretary-General highlighted "the full support of the United Nations to the Government of Burkina Faso in its continuing efforts to ensure peace and stability in the country".

The country, which experienced its first major extremist attack in 2015, is a gateway south into coastal West Africa, and regional leaders worry the extremists could be moving into Togo and Benin.

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