The vast majority of it goes to the United Arab Emirates, according to research published by the independent Switzerland-based aid and advocacy organization SwissAid.
Most industrial gold exported from African countries goes to South Africa, Switzerland and India.
Industrial gold, which makes up roughly 11% of all gold produced, is used in the medical, electronics, automotive, aerospace and defense industries.
But the majority of artisanal and small-scale mining, or ASM, gold produced on the continent — to the tune of 80% to 85% — goes to the UAE, SwissAid wrote.
A selection of gold jewellery displayed in the window of a store in the Dubai Gold Souk in Deira, in the United Arab Emirates.
Persons:
Waldo Swiegers, SwissAid, Yui Mok
Organizations:
Rand, Bloomberg, Getty Images, United Arab Emirates, Dubai Gold, United, CNBC, UAE's Ministry
Locations:
Germiston, South Africa, Getty Images DUBAI, United Arab, Africa, Switzerland, UAE, India, Dubai, Dubai Gold Souk, Deira, United Arab Emirates