Mali Has Launched a Gold Agency to Curb Billions in Undeclared Exports

The move reflects a broader strategy to capture a greater share of the country’s mineral wealth by extending regulatory oversight beyond large industrial mines to thousands of small-scale producers whose output has historically bypassed official trading channels. Authorities say much of Mali’s artisanal gold is smuggled abroad before it can be declared, taxed or recorded in official export statistics, depriving the government of much-needed fiscal revenues at a time when it is seeking to strengthen public finances and maximize returns from the country’s most important export. The latest reforms build on a new mining code introduced in 2023 that increased taxes on miners, expanded state ownership in mining projects and strengthened government oversight of the sector, underscoring a wider trend across Africa as resource-rich countries move to assert greater control over strategic mineral industries and reduce illicit financial flows.

Mali has created a state agency to regulate its sprawling artisanal gold sector after authorities identified billions of dollars in undeclared gold exports, extending a broader push by the military-led government to tighten control over one of Africa’s largest gold industries.

The new Malian Office of Precious Substances will oversee the trade in gold and other precious minerals, particularly from artisanal and small-scale miners, the government said, as it seeks to curb smuggling, formalize production and increase state revenues.

The move follows estimates that between 30 and 57 metric tons of Malian gold leave the country each year without being officially declared, representing between $2.0 billion and $3.8 billion in annual exports, according to a 2024 report by Swiss NGO SWISSAID.

The report estimated that Mali produced about 300 metric tons of undeclared gold worth $13.5 billion between 2012 and 2022, highlighting the scale of illicit trade in one of Africa’s top gold-producing nations.

Artisanal mining employs nearly 2 million people across an estimated 350 to 400 mining sites, according to the government, but much of the sector operates outside official export channels.

The new regulator is the latest step in a sweeping overhaul of Mali’s mining sector aimed at increasing state oversight and boosting returns from the country’s mineral wealth.

Since adopting a new mining code in 2023, Mali has raised taxes on mining companies, increased the state’s minimum ownership stake in mining projects to 35% from 20%, expanded regulatory oversight and conducted audits that authorities say recovered about 761 billion CFA francs ($1.2 billion) in unpaid mining revenues.

The reforms also led to a prolonged dispute with Canadian miner Barrick Mining over the Loulo-Gounkoto gold complex before both sides reached a settlement earlier this year.

Analysts say the creation of the new agency signals that Mali is extending reforms beyond industrial mining into the largely informal artisanal sector, where weak oversight has long facilitated smuggling and tax losses.

The move reflects a broader trend across Africa, where governments are seeking greater control over mineral resources as demand for gold and critical minerals rises.

Neighboring Burkina Faso has also tightened controls over artisanal gold exports and expanded state involvement in the sector to combat smuggling and improve revenue collection.

Official data from Mali’s national statistics agency showed declared gold exports rose to 2.75 trillion CFA francs ($4.8 billion) in 2025 from 1.61 trillion CFA francs ($2.8 billion) a year earlier. South Africa was the largest destination for Mali’s officially declared gold exports, accounting for 60.4% of shipments, followed by the United Arab Emirates and Australia.

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