BAMAKO, July 3 – The Government of Mali has established a new state agency to regulate the country’s growing artisanal gold sector as part of efforts to curb smuggling and improve oversight of one of Africa’s largest gold-producing industries.
The decision was approved by the country’s Council of Ministers, which announced the creation of the Malian Office of Precious Substances, a new institution responsible for overseeing and centralising gold trade flows across the country.
According to the government, the new agency was created after authorities identified significant discrepancies between Mali’s officially declared gold exports and the volumes reported by importing countries, raising concerns over widespread undeclared trade.
Artisanal mining plays a crucial role in Mali’s economy, employing nearly 2 million people across an estimated 350 to 400 mining sites. However, the government said a substantial share of production continues to leave the country through informal channels.
A 2024 SWISSAID report estimated that between 30 and 57 metric tonnes of Malian gold are exported without being officially declared each year, representing an estimated value of between $1.98 billion and $3.77 billion.
The report also estimated that Mali produced approximately 300 metric tonnes of undeclared gold between 2012 and 2022, with an estimated market value of $13.5 billion, highlighting the scale of illicit trade within the sector.
Gold remains Mali’s largest export commodity, with the country’s industrial mining operations producing and exporting approximately 60 metric tonnes annually.
The government’s latest initiative aligns with broader international efforts to formalise artisanal mining. Globally, artisanal and small-scale mining accounts for more than 20% of global gold production and provides employment for over 10 million people, making improved regulation increasingly important for governments seeking to strengthen revenue collection and responsible mining practices.
Official figures also point to strong growth in Mali’s gold exports. According to the national statistics agency, Instat, gold export revenues increased to 2.75 trillion CFA francs ($4.81 billion) in 2025, up from 1.61 trillion CFA francs the previous year.
South Africa remained the largest destination for Mali’s officially declared gold exports, accounting for 60.4% of total shipments. The United Arab Emirates and Australia followed, receiving 12.2% and 12.1% of exports, respectively.
The creation of the Malian Office of Precious Substances forms part of the government’s broader strategy to strengthen oversight of the mining sector, reduce illicit trade and ensure that a greater share of the country’s mineral wealth contributes to domestic economic development.
