Gold boom bankrolls Sahel conflicts

Surging global gold prices are fuelling violence and instability in West Africa’s Sahel, reports the BBC. Military regimes in Mali, Burkina Faso, and Niger rely on gold revenues to fight jihadist insurgencies and shore up budgets battered by sanctions and climate shocks.

Together, the three states produce about $15bn in gold annually, much from informal, unregulated mines where jihadists and militias battle for control. Rights groups say proceeds increasingly flow to Russian mercenaries such as Wagner’s Africa Corps, supporting counterinsurgency campaigns while also enabling atrocities against civilians.

Despite artisanal miners earning as little as $18 a day, soaring prices enrich owners and foreign partners — including refineries in the UAE — with little transparency. Unlike the diamond sector, gold lacks a global certification scheme.

Analysts warn that without strict oversight, “blood gold” from the Sahel will continue funding conflict and feeding international supply chains, with no clear way to trace its violent origins.