Mali is set to introduce new rules to effectively control artisanal gold mining in the country in a bid to overtake South Africa as the continent’s second-biggest producer.
Under the changes, the government will require permits for small-scale miners and set up 200 cooperatives with the help of the World Bank as part of a move to formalise trade by middlemen.
“Mali could significantly increase output if it had better control over production and exports from the artisanal mining sector,” head of the Mining Chamber Abdoulaye Pona was quoted as saying by Bloomberg.
Mining Minister Lamine Traore said the changes will boost Mali’s total output by 15%.
“We can go from being the third-biggest producer of gold to being the second-biggest in Africa,” he said.
Mali loses as much as 15 tonnes of gold valued at $860 million at today’s price from artisanal gold production that is smuggled out of the country.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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