Mali: a debate to bring gold out of the tunnel of “mysticism which saddens us”

Two years ago, the Malian gold industry generated $1.3 billion, up 35% compared to 2021. “For me, this is not little», Supports Dr Mamadou Keïta, economist specializing in the mining sector, during the first edition of the “In the News” forum organized on Saturday November 9, 2024 by AfricabledTV, JolibadTV News and APVRM. Gold has been Mali’s leading export product since 1999, representing 80% of its international shipments and 10% of GDP according to the economist.

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This major economic weight raises crucial issues in Mali, a country rich in mineral resources but relatively poor in development. Optimal and equitable management of this gold windfall is imperative to ensure lasting prosperity and reduce social inequalities.

But this reform had to involve the adoption of a new mining code. This step was taken in August 2023 after the Head of State, Assimi Goita promulgated the new code which should allow Mali to take up to 30% participation in new mining projects, compared to 20% according to the old code. But “it is not a question of creating texts, but ensuring that these texts are applied»warns Mamadou Keïta.

Gold is not just about money

Beyond numbers and percentages, gold is also human stories, not always happy ones. “The country has around 2 million gold prospectors operating in some 300 artisanal mining sites», Declared last August Karim Berthé, of the National Directorate of Geology and Mines following the collapse of a clandestine mine killing 70 people.

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It is this fringe of Malian society for which “gold does not shine» that Aboubacrine Ag Akilini, was interested: “It’s a fairly mystical sector in which not everyone needs to know or get involved. Today, we have become aware that it is our populations, our lands that are being degraded without us knowing for what purposes. People no longer have arable land without knowing who benefits. It saddens us» regretted this forum participant. This interest in those left behind can be explained because in Mali, artisanal gold mining produces around 30 tonnes of gold per year and represents 6% of the country’s annual gold production, an activity which occupies 2 million people.

The “In the News” speakers are unanimous, if gold represents a formidable development lever for Mali, major reforms in governance, the legal framework and the negotiation of contracts are required to sustainably transform this natural wealth into shared prosperity.

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The voice of civil society and impacted local communities must also be heard and integrated into decision-making processes. Only inclusive consultation will ensure equitable distribution of positive socio-economic benefits and prevent conflicts.

If gold constitutes a considerable economic asset, Mali cannot rely solely on this non-renewable resource. A strategy to diversify the drivers of growth and development of non-mining productive sectors must be carried out in parallel to prepare for post-mining. Furthermore, a substantial part of gold revenues must be invested in human capital, infrastructure and the transition to a green economy resilient to climate change.