Sarama Resources Files US$242M Claim Against Burkina Faso

Sarama Resources Ltd. announced the filing of its Memorial against the Government of Burkina Faso, seeking US$242 million in damages. The claim follows the unlawful expropriation of Sarama's Tankoro 2 Exploration Permit. The company is pursuing arbitration through the International Centre for Settlement of Investment Disputes.

Sarama's case includes statements, witness evidence, and expert reports supporting their claim. The Government of Burkina Faso must respond with its Counter-Memorial by January 31, 2026. A case management conference is scheduled for February 17, 2026, to establish a Procedural Timetable.

The arbitration proceedings stem from Burkina Faso's retroactive rejection of Sarama's exploration permit, which disrupted the company's Sanutura Project. Sarama has secured a non-recourse loan to cover arbitration costs, emphasizing its commitment to protecting shareholder value.