The Malian government has taken a significant step in regulating its artisanal gold mining sector with the launch of the Office des substances précieuses (OMASP). According to a report by APA-News, the office was officially installed on Friday. OMASP is tasked with buying, transforming, certifying, and exporting gold from artisanal mining and small-scale mines. This move is part of a broader effort to formalize the sector and increase government revenue.
The creation of OMASP was decreed in April and ratified by the Conseil national de transition in June. The office's responsibilities include transforming raw gold into bars, sorting, grading, refining, and certifying products for export. Additionally, OMASP will be responsible for processing applications for approval from gold traders, collectors, and exporters of gold jewelry and art objects. The office will work in collaboration with private traders and approved collectors.
The main sources of revenue for OMASP are expected to be from gold sales, royalties, commissions, approval fees, and service charges. A key aspect of the office's operations is that its purchase and sales on the domestic market are exempt from value-added tax (TVA). This exemption is intended to encourage the formalization of artisanal gold mining and trading.
The Malian authorities have cited discrepancies between officially reported gold exports and those declared by importing countries as a reason for this reform. By establishing OMASP, the government aims to reduce informal exports and improve revenue collection from artisanal gold mining. In 2025, Mali's national gold production was 48.2 tonnes, with 42.2 tonnes from industrial mines and 6 tonnes from artisanal mining.
However, gold production in Mali declined by 22.9% compared to 2024, largely due to the prolonged halt in activities at the Loulo-Gounkoto mining complex. Despite this decline, gold remains Mali's top export product and a central focus of reforms undertaken by the authorities, particularly since the adoption of the new Mining Code in 2023.
The establishment of OMASP reflects the government's commitment to optimizing revenue from its natural resources. By formalizing the artisanal gold sector, Mali aims to increase transparency and accountability in the industry. The office's success will depend on its ability to effectively regulate the sector and encourage compliance among artisanal miners and traders.
The launch of OMASP marks a significant development in Mali's efforts to reform its mining sector. As the country continues to navigate challenges in the industry, the effectiveness of this new office will be closely watched by stakeholders. With its mandate to oversee the artisanal gold sector, OMASP is poised to play a crucial role in shaping the future of Mali's gold mining industry.
Key points
- The Malian government has established the Office des substances précieuses to regulate the country's artisanal gold mining sector and increase revenue.
- OMASP's responsibilities include buying, transforming, certifying, and exporting gold from artisanal mining and small-scale mines.
- The office's operations are expected to increase transparency and accountability in the industry, reducing informal exports and improving revenue collection.
