Mali Creates Agency to Control Artisanal Gold Trade

Mali has established a state agency to regulate its artisanal gold sector as authorities seek to curb smuggling, improve transparency and increase revenue from one of the country’s most important export industries.

The decision follows concerns over discrepancies between Mali’s officially declared gold exports and significantly larger volumes reported by importing countries. Officials believe substantial quantities of artisanal gold leave the country through informal trade routes, reducing government revenue.

The newly created Malian Office of Precious Substances will oversee the purchase, sale and export of artisanal gold. Authorities said the agency is expected to strengthen oversight, improve traceability and support the formalisation of a sector that employs nearly two million people across an estimated 350 to 400 mining sites.

A 2024 SwissAid report estimated that between 30 and 57 metric tonnes of Malian gold are exported each year without being officially declared, with an estimated value of between USD 1.98 billion and USD 3.77 billion. The report also estimated that about 300 tonnes of undeclared gold, worth approximately USD 13.5 billion, were produced between 2012 and 2022.

Gold is Mali’s largest export commodity. While industrial mines officially produce about 60 tonnes annually, artisanal mining makes a significant contribution to national output despite widespread informal trading.

Official data show the value of Mali’s gold exports increased to 2.75 trillion CFA francs (USD 4.81 billion) in 2025 from 1.61 trillion CFA francs the previous year. South Africa remained the leading destination for official exports, followed by the United Arab Emirates and Australia.

The government said the new agency is expected to improve revenue collection, strengthen regulation of the sector and support efforts to formalise artisanal mining.

SOURCE: Reuters