Oct 7 (Reuters) - Fortuna Mining ( FSM ) said on Monday
that the government of Burkina Faso does not plan to withdraw
the Canadian company's existing mining permits in the country.
Junta leader Ibrahim Traoré said on Saturday that Burkina
Faso planned to withdraw mining permits from some foreign
companies and would seek to produce more of its own gold,
without specifying which permits would be canceled.
Shares of gold miners with projects in the West African
country slumped sharply in Monday trade at the Toronto Stock
Exchange, dragging down the entire index.
Shares of Fortuna Mining ( FSM ) were down 9% at 3:25pm ET (19.25
GMT). Orezone Gold Corp ( ORZCF ), which owns the Bombero gold
mine, was also down 9% at the TSX.
Gold miner Endeavour Mining ( EDVMF ) said Traor discussed
several topics on Saturday to commemorate two years of his
presidency and made a reference that certain mining permits may
potentially be revoked.
However, Endeavour said the government remains
supportive of the company and it is not aware of any plans to
revoke any of its mining permits.
Shares of Endeavour were down 3% at the TSX.