June 12 (Reuters) - Burkina Faso has completed the

transfer of five gold mining assets to the country's state-owned

miner, according to a decree published late on Wednesday,

finalising a process that began in August to increase control

over its mineral resources.

Like its neighbours Mali and Niger, Burkina Faso is seeking

to control a larger share of its resources after revising its

mining code last year. It has established the Société de

Participation Minière du Burkina (SOPAMIB) as a vehicle to own,

manage and operate strategic mining assets.

The five assets transferred to the state are two operating

gold mines and three exploration licences held by subsidiaries

of London-listed Endeavour Mining ( EDVMF ) and Lilium, including

Wahgnion Gold SA, SEMAFO Boungou SA, Ressources Ferké SARL,

Gryphon Minerals Burkina Faso SARL, and Lilium Mining Services

Burkina Faso SARL.

A deal to sell the Endeavour assets to Lilium had stalled,

leading the state to step in.

"This acquisition is in line with the state's policy of

sovereign ownership of mining resources to optimise exploitation

for the benefit of the population," the decree said.

Burkina Faso is Africa's fourth largest gold producer,

producing more than 57 tons of gold in 2023. It plans to

continue with the nationalisation efforts, which it has said

will deliver more income for the state, particularly after a 27%

surge in the price of gold this year.

However, the reforms have alarmed Western investors, which

also include Canada's IAMGOLD ( IAG ), Nordgold and Australia's

West African Resources Ltd. ( WFRSF )