Close-up of a hand holding gold grains, symbolizing Burkina Faso’s gold mining industry.
Mali has established a new state agency, the Malian Office of Precious Substances, to regulate and centralize its artisanal gold trade and combat widespread smuggling that has deprived the country of billions of dollars in export revenue. The agency was created after authorities identified significant discrepancies between officially declared gold exports and volumes recorded by importing countries. A 2024 SWISSAID report estimated that between $1.98 billion and $3.77 billion worth of undeclared gold is exported annually, with roughly $13.5 billion in undeclared gold leaving the country between 2012 and 2022. Gold remains Mali’s largest export, with official shipments generating about $4.81 billion in 2025. By formalizing the artisanal mining sector, which supports nearly two million people, the government hopes to improve transparency, increase public revenue, and reduce illicit cross-border trade.
Africanews