Gold central office must be operational before the end of this year

The Gold Exchange retains its license fee at 20 million MGA (4,400 USD). The amount established by Decree n ° 1345 of July 2, 2024, remains consistent with that set by the previous decree regarding the gold regime in 2023.

However, there are some differences between the two texts. According to the 2023 decree, this authorization was a separate revenue source for the National Gold Agency (Anor). The newly adopted decree states that this fee is now owed to the Gold Central Office of Madagascar (COM), a public industrial and commercial establishment (Epic) under the Ministry of Mines.

Additionally, the Gold Exchange license has been extended for an additional two years and is renewable one or more times for periods of one year. As per the previous decree, the license can be renewed under the same conditions as the initial license.

The holder of the Gold Exchange license is authorized to buy, sell, process, smelt, export, and import gold. The conditions for obtaining the license remain unchanged: the applicant must be a Malagasy company with a legal representative who permanently resides in Madagascar.

According to Prime Minister Ntsay Christian, the Gold Central Office of Madagascar must be operational before the end of this year. Additionally, the national gold refinery is expected to begin operations next year.