FranceMali has established a new state agency called the Malian Office of Precious Substances to regulate its growing artisanal gold sector. The decision follows findings that there are significant discrepancies between officially declared gold exports and those recorded by foreign countries, indicating widespread smuggling. Artisanal gold mining employs nearly two million people in Mali, but much of the production leaves the country informally, costing the nation billions in lost revenue. A 2024 report by SWISSAID estimates that between 30 and 57 metric tonnes of unreported gold worth up to $3.77 billion are smuggled out annually, with cumulative losses reaching $13.5 billion between 2012 and 2022. The new agency aims to increase oversight, reduce smuggling, and ensure Mali captures more revenue from its gold exports, which remain a critical part of the country’s economy.
Bias read (Center): The article presents factual information about Mali's regulatory efforts without overtly favoring any political ideology. It reports on government actions, international reports, and economic data without evident ideological slant. While the issue of gold smuggling and regulation is politically sali
