French exploitation of Gold mines in Africa during and after decolonization

Introduction

The disparity in wealth has grown, with the affluent becoming wealthier while the impoverished have become poorer. A significant question arises: what percentage of the profits from gold mining has been reinvested in Africa?

Observing Africa's current state, it appears that resources have been extracted primarily for the economic benefit of others, strengthening their economies at Africa's expense.

To understand the financial gains of French companies from gold mining during and after colonization, we can compile available data to shed light on the extent and impact of these activities.

This situation is deeply disheartening, driven by greed.

Colonial Era

During the colonial period, France extensively exploited gold resources in its African colonies. In West Africa, particularly in areas that are now Mali, Guinea, and Burkina Faso, gold mining was a significant source of wealth for the French colonial empire. For instance:

In Burkina Faso, France reportedly looted substantial amounts of gold: 39 tons in 2016, 36 tons in 2015, 36 tons in 2014, 33 tons in 2013, and 29 tons in 2012.

This is mere 173 tons of Gold looted by France from 2012-2016 from Burkina Faso

Guinea, which possesses vast mineral wealth including gold, was heavily exploited by France. The country has a third of the world’s bauxite reserves and significant gold deposits.

Post-Colonial Era

After independence, many French companies continued to benefit from mining operations in former colonies:

In Mali, which is the 6th largest African gold producer, French companies have maintained a significant presence. The country has over 600 active artisanal gold mining sites with more than a million people working in them, often under harsh conditions.

Senegal, one of France’s oldest colonies in Africa, has abundant resources including gold. Numerous French companies dominate profitable industries in the country, including mining.

Current Operations

Today, French mining companies continue to operate in Africa and other parts of the world:

Endeavour Mining, a major gold producer with operations in West Africa, reported revenue of $2.31 billion USD in 2024.

ERAMET S.A., a French mining and metallurgy company, is among the top mining companies in France by operating income.

Economic Impact

The economic impact of these mining operations has been significant

Many large French companies that play important roles in today’s French economy, such as the Bolloré Group and L’Oréal, benefited from the use of raw materials imported from the colonies.

The exploitation of colonies became a crucial factor for France’s economic growth, as acknowledged by many French researchers.

Conclusion

While it’s impossible for us to provide an exact figure for the profits made by French companies from gold mining during and after colonization, it’s clear that the amounts were substantial and contributed significantly to France’s economic development.

The legacy of this exploitation continues to impact both France and its former colonies today.

It was France before now China and Turkey are already at African corridor.