However, Charles Dumbrille of IN-D-TEL International said things could change if there’s more government involvement.
Illegal mining is a problem that cannot be ignored, and it’s gaining more attention within the investment industry, according to Charles Dumbrille, chief risk officer at IN-D-TEL International.
Speaking with the Investing News Network at this year’s Prospectors & Developers Association of Canada (PDAC) convention, Dumbrille said that things could change in the event that there is more government involvement to find solutions.
“There’s no one-size-fits-all (solution),” he said on the sidelines of the show. “There are very innovative programs out there that are able to give back to the communities, to the local miners — (but) we need to understand that this is people’s livelihoods.”
Dumbrille also shared his thoughts on the current situation in Burkina Faso and why it is important for investors to keep an eye on what is happening in the country.
For the expert, it’s going to take a long time for the nation to return to being a safe jurisdiction.
“Any investors that are there now the government is very grateful for … but it is going to be a very tough situation in the coming months,” he added.
Last year, Kirk Woodman, vice president of exploration at Progress Mineral Mining Company, was found dead after being kidnapped during an overnight raid on a mining site in Burkina Faso. The news put the country under the spotlight, with the situation deteriorating since then, according to Dumbrille.
“You see it in neighboring countries as well,” he said.
Speaking more about West Africa, Dumbrille talked about the upcoming Ghana elections; he believes the country is stable and will continue to be stable in the near future.
“Illegal mining is an issue in the country,” he said. “The former president, John Mahama, has promised to regulate illegal mining if he is re-elected.”
Listen to the interview above to learn more about Drumbille’s thoughts on Africa, illegal mining and the current coronavirus outbreak. You can also click here for our full PDAC playlist.
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.