#Mali takes gold under state control
#Mali takes gold under state control
On March 18, the Council of Ministers of Mali decided to establish the Mali Precious Substances Authority (OMSP), which will become a key instrument for regulating a sector of vital importance to the national economy.
The new government structure will be:
centrally engage in the sale of gold and other precious metals;
regulate the market;
ensure transparency and tracking of supply chains;
fight against smuggling and resource leakage;
maximize government revenue from gold.
Mali is one of the largest gold producers in Africa, but much of the production used to go past the budget through informal channels.
The authorities are taking a serious step towards strengthening economic sovereignty.
Source: Telegram "westernafrica"