West African Resources
West African Resources Limited is an ASX-listed gold producer developing and operating the Kiaka Gold Project in Burkina Faso. The company extracts and sells gold into global commodity markets, currently transitioning from development to commercial production with 501–1,000 employees and an A$150M 2024 capital raise.
- Company typePublic
- Founded2006
- HeadquartersSubiaco, Australia
- Headcount501–1,000
- GTM typeB2B
- OfferingHardware or Manufacturing
What West African Resources does
West African Resources Limited is a publicly listed gold mining company (ASX: WAF) headquartered in Subiaco, Australia, focused on the development and operation of the Kiaka Gold Project in Burkina Faso. The company's core activity is the extraction and sale of gold, with the Kiaka project representing its flagship asset and the primary driver of capital deployment, equipment purchases, and infrastructure build-out. As a development-stage producer transitioning to commercial output — confirmed by strong Q1 2026 production results disclosed on an earnings call — the business is currently in the ramp-up phase of a single-asset operation.
The company finances and operates via conventional mining economics: it raised approximately A$150 million (≈US$101.5M) in a July 2024 capital placement to fund equipment procurement, workshop facilities, exploration drill rigs, and broader project infrastructure at Kiaka. Earlier funding rounds in 2018 (approximately US$31M and US$35M) supported pre-development work. Gold is sold as a commodity into global markets through established channels to gold buyers and refiners, with pricing determined by spot market rates rather than negotiated contracts. There are no named offtake counterparties, branded retail products, or technology platforms beyond the core mining operation.
Geographically, West African Resources is single-jurisdiction (Burkina Faso) and single-asset (Kiaka), which concentrates operational and political risk. The government of Burkina Faso, through state mining entity SOPAMIB, is negotiating to acquire an additional 25% equity stake in Kiaka, reflecting the military junta's broader strategy of increasing state control over the mining sector. The company employs between 501 and 1,000 people and is led by COO Lyndon George Hopkins and CFO Padraig O'Donoghue. Revenue is not formally disclosed in the supplied material, and the financial table provided contains data-quality errors that prevent direct triangulation.
West African Resources firmographics
Firmographics- Name
- West African Resources
- Legal name
- West African Resources Limited
- Website
- https://westafricanresources.com
- Company type
- Public
- Founded year
- 2006
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- West African Resources Limited is an ASX-listed gold producer developing and operating the Kiaka Gold Project in Burkina Faso. The company extracts and sells gold into global commodity markets, currently transitioning from development to commercial production with 501–1,000 employees and an A$150M 2024 capital raise.
- Ownership category
- akta.pro rank
West African Resources industry classification
Industry- Product category
- Gold Mining
- NAICS
- Gold Ore and Silver Ore Mining (212220)
- SIC
- Gold And Silver Ores (1040), Metal Mining (1000)
- akta.pro primary industry
- Gold Mining (IMAKAEAA)
- akta.pro secondary industry
- Copper Exploration & Resource Development (IMAKADAA)
Keywords
Where West African Resources is headquartered
LocationHeadquarters
- HQ city
- Subiaco
- HQ country
- Australia
- HQ region
- Oceania
Markets served
West African Resources business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Personnel, Infrastructure, Others
Revenue model
- Gold production and sales: West African Resources operates as a gold mining company generating revenue through the extraction and sale of gold from its operations in Burkina Faso, primarily from the Kiaka Gold Project.
Distribution channels1 record
West African Resources product offering
Product offeringCore offering
West African Resources is a gold mining company that operates the Kiaka Gold Project in Burkina Faso. The company's primary offering is gold production through mining operations, including equipment purchases, infrastructure development, and exploration drilling activities to extract and produce gold.
Product overview
West African Resources is a gold mining company that operates the Kiaka Gold Project in Burkina Faso. The company's primary product offering is gold production through mining operations. Key assets include the Kiaka Gold Project where the company conducts equipment purchases, infrastructure development, and exploration drilling activities to extract and produce gold.
Differentiator
Problem solved
Functional benefit
Products and services
- Kiaka Gold Project
Companies that use West African Resources
Customer profileSegments1 record
Ideal customer profiles1 record
West African Resources technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
West African Resources partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- SOPAMIB (Burkina Faso state mining entity)coreBurkina Faso government, through state mining entity SOPAMIB, is negotiating to acquire an additional 25% equity stake in the Kiaka Gold Project. This reflects Burkina Faso's strategy to increase state control over the mining sector and expand local benefits from mineral resources under the military junta's leadership.
Scale indicators3 records
Recent moves5 records
Expansion highlights1 record
West African Resources competitors and assessment
Company assessmentDirect peers
- IAMGOLD: IAMGOLD operates the Essakane gold mine in Burkina Faso and has additional West African development projects, providing a directly comparable jurisdictional, operational, and asset-stage profile to West African Resources.
- Endeavour Mining: Endeavour Mining is a mid-tier West African gold producer with multiple operating mines in Burkina Faso (Houndé, Ity, Mana), making it the closest direct comparable to West African Resources by geography, asset profile, and scale.
- Perseus Mining: Perseus Mining is a mid-tier gold producer with operating mines in West Africa (Edikan in Ghana, Sissingué and Yaouré in Côte d'Ivoire) and a similar size profile, making it directly comparable to West African Resources.
- B2Gold: B2Gold is a mid-tier gold producer with West African assets (Fekola in Mali) and a comparable production and corporate profile, though it also operates outside the region giving it greater geographic diversification.
- Resolute Mining: Resolute Mining operates the Syama and Mako gold mines in Mali and Senegal, sharing WAF's ASX listing and West African operating footprint, making it a directly comparable mid-tier gold producer peer.
- Hummingbird Resources: Hummingbird Resources operates the Yanfolila gold mine in Mali and has West African development assets, making it a smaller-scale but directly comparable West African gold producer peer.
Broad incumbents
- Newmont: Newmont is one of the world's largest gold miners with significant West African operations (Ahafo and Akyem in Ghana), providing broad-incumbent comparability in production methods, costs, and West African operating risk exposure.
- AngloGold Ashanti: AngloGold Ashanti is a major global gold producer with West African operations (Iduapriem in Ghana, Siguiri in Guinea), comparable as a broad incumbent for jurisdictional risk profile and operational scale benchmarking.
- Barrick Gold: Barrick Gold operates the Loulo-Gounkoto complex in Mali, providing broad-incumbent comparability for West African gold mining scale, cost benchmarking, and host-country risk assessment.
Regional players
- Centamin: Centamin is a mid-tier gold producer primarily operating in Egypt (Sukari) and West Africa (Doropo project in Côte d'Ivoire), making it a regional comparable for emerging West African development stage assets similar to Kiaka.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks5 records
Key highlights5 records
Customer concentration
West African Resources social profiles
Digital presenceWest African Resources financial estimates
Financial estimateRevenue estimate
Valuation estimate
West African Resources leadership team
Management profileNumber of profiles
Profiles2 records
West African Resources funding detail
Funding detailFunding overview
Funding rounds3 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
West African Resources M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about West African Resources
What does West African Resources do?
West African Resources is a gold mining company that operates the Kiaka Gold Project in Burkina Faso. The company's primary offering is gold production through mining operations, including equipment purchases, infrastructure development, and exploration drilling activities to extract and produce gold.
Is West African Resources a public or private company?
West African Resources is a public company. It is classified as public and is currently operating.
When was West African Resources founded?
West African Resources was founded in 2006. It employs 501 to 1,000 people.
Where is West African Resources based?
West African Resources is headquartered in Subiaco, Australia, in the Oceania region.
How does West African Resources make money?
One revenue line is on record: gold production and sales.
Who are West African Resources's main competitors?
Direct peers on record are IAMGOLD, Endeavour Mining, Perseus Mining, B2Gold, Resolute Mining and Hummingbird Resources. Broad incumbents are Newmont, AngloGold Ashanti and Barrick Gold. Centamin is listed as a regional player.
Does West African Resources have an API?
No public API is recorded for West African Resources.
What industry is West African Resources in?
West African Resources's product category is Gold Mining. Its primary akta.pro industry code is IMAKAEAA, Gold Mining, with a secondary code of IMAKADAA, Copper Exploration & Resource Development. Its NAICS code is 212220 and its SIC code is 1040.