In 2024, the Big Island legally exported less than 5 kilos of gold, whereas the previous year, when this trade was prohibited, more than a ton of gold left the territory illegally. Madagascar is the victim of complete pillage of all of its resources. After the seizures of turtles and precious wood, the latest report concerning gold exports confirms this implacable observation.
The report from the Extractive Industries Transparency Initiative (EITI) estimates that between 2020 and 2023, 4 tonnes of gold from Madagascar were exported illegally, Madagascar-Tribune tells us. However, in 2023, the trade in this precious resource was supposed to be banned.
In 2024, the National Agency in charge of gold on the Big Island had entrusted legal export to six companies. The contract, signed on October 17, 2023, was to replenish the country’s coffers. Prime Minister Christian Ntsay estimated that six tonnes of gold would be sold legally in 2024.
The final results are far from this projection. Less than 5 kilos of gold were exported in 2024, writes 2424.mg. Obviously, potential buyers are in no hurry. Is this linked to the prices charged on the illegal market?
