Mali has established a new state entity to regulate its burgeoning artisanal gold trade after identifying large discrepancies between officially declared exports and volumes reported by importing countries, the government said.
- The Malian Office of Precious Substances will oversee and centralise gold trade flows, the council of ministers said in a statement on Wednesday.
- Artisanal mining in Mali, one of Africa’s largest gold producers, employs nearly 2 million people across 350-400 sites but much of the sector’s output is smuggled, the government said.
- A 2024 SWISSAID report estimated undeclared Malian gold exports at 30 to 57 metric tons a year, worth $1.98 billion to $3.77 billion. The country produced about 300 tons of undeclared gold worth $13.5 billion between 2012 and 2022, it said.
- Gold is Mali’s most important export, with industrial mines producing and exporting about 60 tons annually.
- Globally, gold producers are increasingly moving to formalise artisanal mining, which accounts for more than 20% of global output and employs over 10 million people.
- Mali’s gold exports rose to 2.75 trillion CFA francs ($4.81 billion) in 2025 from 1.61 trillion CFA francs a year earlier, according to national statistics institute Instat.
- South Africa accounted for 60.4% of Mali’s official gold exports, followed by the United Arab Emirates and Australia with 12.2% and 12.1% respectively.
