ASIATODAY.ID, BAMAKO — Mali has established a new state agency to regulate and centralize the country’s artisanal gold trade, marking the latest step in a broader effort to strengthen state control over one of Africa’s most important mining industries and increase public revenue from its vast mineral wealth.
The newly created Malian Office for Precious Substances will oversee the marketing and sale of artisanal gold and other precious minerals. The government said the agency is intended to improve traceability, curb smuggling, and channel more transactions through official markets as part of the implementation of the country’s 2023 Mining Code and local content legislation.
Artisanal and small-scale mining plays a critical role in Mali’s economy, employing an estimated 2 million people across 350 to 400 mining sites, according to government data. Gold is the country’s largest export commodity, generating billions of dollars in foreign exchange earnings and fiscal revenue, although authorities say illegal trade continues to undermine official export figures.
According to the World Gold Council, Mali produced 82.9 metric tons of gold in 2025, making it Africa’s fourth-largest gold producer after Ghana, South Africa, and Burkina Faso. Official statistics show gold exports rose to approximately 2.75 trillion CFA francs (US$4.8 billion) in 2025, up from 1.61 trillion CFA francs the previous year.
The reform also reflects Bamako’s strategy to secure a larger share of mining revenues. Under the revised 2023 Mining Code, the government and domestic investors are permitted to collectively hold up to 35% equity in new mining projects, expanding state participation in future developments.
The policy has prompted several international mining companies to adjust their operations under the revised regulatory framework. Major producers operating in Mali, including Barrick, Resolute Mining, B2Gold, Hummingbird Resources, and Endeavour Mining, have either reached agreements with the government or entered negotiations to align with the country’s updated mining regulations.
Mali’s latest move mirrors a broader trend across West Africa, where governments are seeking greater control over strategic mineral resources. Burkina Faso has expanded state purchases of artisanal gold, Niger has nationalized its only industrial gold mine, and Guinea has banned raw gold exports to encourage domestic refining and value-added processing.
The reforms are expected to be closely watched by international mining companies, commodity traders, and investors as resource-rich African nations continue to strengthen state oversight of their mining sectors and seek a greater share of the economic value generated by critical mineral resources. (AT Network)
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