Mali has established a new state entity to regulate its burgeoning artisanal gold trade. This decision follows the identification of large discrepancies between officially declared exports and volumes reported by importing countries.
The newly formed Malian Office of Precious Substances will oversee and centralise all gold trade flows. The government revealed that much of the gold sector’s output is smuggled, despite employing nearly 2 million people across 350-400 sites. This illicit trade significantly impacts Mali, one of Africa's largest gold producers.
This initiative fits into a broader trend of African nations seeking to formalize their natural resource sectors. Many countries are moving to capture more value from commodities like gold, which often leave their borders unrecorded. Ghana, for example, faces similar challenges with artisanal mining, known locally as 'galamsey', and its economic ramifications.
A 2024 SWISSAID report highlighted the scale of the issue in Mali. It estimated undeclared Malian gold exports at 30 to 57 metric tons per year. This illicit trade was valued between GHS 24.1 billion ($1.98 billion) and GHS 45.9 billion ($3.77 billion). The report further indicated that Mali produced approximately 300 tons of undeclared gold worth GHS 164.7 billion ($13.5 billion) between 2012 and 2022.
Gold serves as Mali's most important export. Industrial mines alone produce and export about 60 tons annually. Globally, artisanal mining accounts for over 20% of worldwide gold output and employs more than 10 million people. The move by Mali reflects an international push to bring these informal operations into regulated frameworks.
Mali's official gold exports increased significantly to GHS 58.7 billion ($4.81 billion) in 2025. This was up from GHS 19.6 billion ($1.61 billion) in the previous year, according to the national statistics institute Instat. South Africa accounted for 60.4% of Mali's official gold exports, while the United Arab Emirates and Australia received 12.2% and 12.1%, respectively.
The creation of this new state body suggests Mali is committed to increasing transparency and revenue from its gold sector. This move could lead to a significant increase in official export figures and government revenue. It will also likely influence future trade relationships with importing nations as formal channels are strengthened. Market observers and international bodies will closely monitor the effectiveness of these new regulations.