Mali’s gold exports increased by 8.4% in 2022, reflecting an increase in industrial gold production over the same period, according to data released by the country’s statistics agency on Friday.
According to media reports, the West African country exported 69.3 tonnes of gold last year, up from 63.9 tonnes in 2021. The metal accounts for roughly a quarter of the country’s fiscal resources.
Last year’s exports were valued at around 2,001 billion CFA francs ($3.24 billion), up from around 1,867 billion CFA francs ($3.02 billion) the previous year.
Mali is one of Africa’s leading gold producers, with industrial mines run by companies such as Barrick Gold (ABX.TO), B2Gold Corp (BTO.TO), Resolute Mining (RSG.AX), AngloGold Ashanti (ANGJ.J), and Hummingbird Resources (HUMR.L).
It exports mainly to South Africa, followed by Switzerland and Australia.
Industrial gold production was around 4.4% higher in 2022 than the previous year because of improved performance in the sector. But it is forecast to fall this year.
Gold reserves stood at around 881.7 tonnes in October, Finance Minister Alousseni Sanou said on Thursday.
