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Mali Gold Exports Gain

FILE: A gold miner pans for gold in Koflatie, Mali, on October 28, 2014, a mine located near the border with Guinea. Taken Oct. 28, 2014.

BAMAKO - Mali's gold exports rose 8.4% in 2022, reflecting a rise in industrial gold production over the same period, data from the country's statistics agency showed on Friday.

The West African country, exported 69.3 tons of gold last year, compared to 63.9 tons in 2021, according to statistics seen by Reuters.

The value of last year's exports was around 2,001 billion CFA francs ($3.24 billion), compared with around 1,867 billion CFA francs ($3.02 billion) the previous year.

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 tons in October, Mines Minister Lamine Seydou Traore said on Thursday.

Mali is one of Africa's top gold producers and home to industrial mines operated by by a number of international companies.

It exports mainly to South Africa, followed by Switzerland and Australia.

Gold contributes to around a quarter of the country's fiscal resources.