Skip to content
Search

Latest Stories

Billions in African gold smuggled out each year: Report

The NGO Swissaid reported that 321-474 tonnes of African gold produced through artisanal and small-scale mining goes undeclared annually, representing a value of between £19-28 billion.

Billions in African gold smuggled out each year: Report

Billions of pounds' worth of gold is smuggled out of Africa each year, with much of it heading to Dubai before being legally re-exported to other countries, according to a report by a Swiss NGO on.

The NGO Swissaid reported that 321-474 tonnes of African gold produced through artisanal and small-scale mining goes undeclared annually, representing a value of between £19-28 billion.


Africa is the world's leading gold-producing continent, with Ghana, South Africa, Mali, and Burkina Faso leading production in 2022.

According to the NGO, the smuggling of African gold has "more than doubled between 2012 and 2022".

The NGO stated that the precious metal is "a source of income for millions of artisanal miners, the main source of revenue for many governments, a means of financing armed groups, and the cause of serious human rights violations and environmental degradation".

The report highlighted Dubai as an international hub for the trade of African gold, which is then exported to countries including Switzerland.

The NGO estimates that in 2022, "66.5 percent (405 tonnes) of the gold imported into the UAE from Africa was smuggled out of African countries".

It arrives in Dubai by plane, "in hand luggage or in the hold, on scheduled flights or in private jets."

The emirate hosts gold refineries and thousands of precious metal and gemstone traders.

From Dubai, African gold is mainly sent to Switzerland, its "second-largest importer", and also to India.

Under Swiss law, the last place where the gold is processed is considered its place of origin, so gold arriving in Switzerland is not traced back to Africa, the NGO explained.

The report covers the period from 2012 to 2022 and is based on data collected from 54 African countries, cross-referencing gold production data with official export and import data.

(AFP)

More For You

Protesters rally against China's planned mega-embassy in London

A protestor is detained by the police during a demonstration against the proposed site of the new Chinese Embassy, outside Royal Mint Court, in London. REUTERS/Carlos Jasso

Protesters rally against China's planned mega-embassy in London

HUNDREDS of demonstrators protested at a site earmarked for Beijing's controversial new embassy in London over human rights and security concerns.

The new embassy -- if approved by the UK government -- would be the "biggest Chinese embassy in Europe", one lawmaker said earlier.

Keep ReadingShow less
Indian man arrested in US for alleged sexual assault

Singh is charged with “assault with sexual motivation” (Photo for representation: iStock)

Indian man arrested in US for alleged sexual assault

AN INDIAN national is among four persons arrested by US immigration authorities over charges related to sexual assault.

Jaspal Singh, 29, an Indian citizen was arrested on January 29 in Tukwila, Washington.

Keep ReadingShow less
Starmer sacks minister over WhatsApp messages

Andrew Gwynne (Photo: UK parliament)

Starmer sacks minister over WhatsApp messages

A Labour party lawmaker said he regretted "badly misjudged" comments after prime minister Keir Starmer sacked him as a minister.

It is the latest bump in the road Starmer's government has hit in its first seven months in power despite a landslide election victory in July last year.

Keep ReadingShow less
modi-bjp-reuters

BJP supporters celebrate in New Delhi. (Photo: Reuters)

Modi's BJP wins Delhi assembly election after 27 years

INDIAN prime minister Narendra Modi said on Saturday that "development had won" as his Bharatiya Janata Party (BJP) secured victory in Delhi’s local elections, ending a 27-year gap since it last controlled the capital’s legislature.

"Development has won, good governance has won," Modi said after Delhi’s former chief minister, a key opposition leader, conceded defeat.

Keep ReadingShow less