Home / Foreign News / Terrorists accrue $140million from gold mine raids

Terrorists accrue $140million from gold mine raids

According to a report by the Government in Burkina Faso, Jihadists terrorist have made at least $140 million from attacks on gold mines in Burkina Faso since 2016.

Gold mining has become a welcome source of funding for jihadists and other armed movements in areas lacking in central authority, according to the report’s author Ollo Kambou of the Burkina Economic and Social Observatory (OES).

The report estimated the total cost of the attacks in terms of damage to property and wider effects to be 600 billion CFA francs ($1.1 billion) since 2016, roughly one-third of the state’s entire revenue.

The sector made up 11.4 per cent of economic output in 2018. It accounts for 9,200 direct jobs and 26,100 indirect jobs, while the gold panning sub-sector employs 1.5 million people.

More than 1,100 people have died and more than one million have fled their homes in Burkina Faso since 2015 when jihadists crossed from neighbouring Mali and began their attacks.

The violence has been attributed to jihadists affiliated with Al-Qaeda or the Islamic State group .While those groups are using the gold to funding terrorism, Kambou said that most attacks are financed from abroad.

About crimechadmin

Check Also

BREAKING: US President, Donald Trump hospitalized

The United States President, Donald Trump has been hospitalized. He was transported to Walter Reed …

Leave a Reply

Your email address will not be published. Required fields are marked *