Alexei Mordashov's company is stepping up its efforts at its Bissa Gold concession in the centre of Burkina Faso, which is less exposed to security risks. At the same time, the Russian firm is trying to persuade the ruling junta to allow it to settle some of its tax and royalty dues in gold and to lift a ban on exporting its output.
The gold producer Nordgold, which has just announced the closure of one of its mines in Burkina Faso, claims to have found an alternative solution for refining its African output, which was an early victim of the sanctions targeting Russia and Nordgold's owner, oligarch Alexey Mordashov.
Alexey Mordashov, who has been put on the British Treasury's sanctions list following the Russian invasion of Ukraine, is struggling to find a refiner for the gold produced by his UK-listed Nordgold group in Burkina Faso and Guinea.
As the mining industry struggles to take in the impact of the historic sanctions slapped on Russian banks and capital by Washington, Brussels and London, Russia's private and state-owned mining firms on the continent are preparing for when their funds run dry.
After investing heavily in Russia, the UAE is remaining resolutely neutral on the former's invasion of Ukraine, with an eye to advancing several strategic interests, from investment funds to Arctic shipping routes.