Home | News    Sunday 1 April 2012

South Sudan open to investment in oil and minerals

separation
increase
decrease
separation
separation

March 31, 2012 (JUBA) - South Sudan is open to investment in the oil and minerals sector, the country’s deputy minister of petroleum and mining told Sudan Tribune on Saturday, explaining that it is in the interest of the government to diversify the economy, after years of depending on solely oil.

Elizabeth James Bol said South Sudan has “abundant resources” some of which have not been discovered and that government is discussing with the international companies to explore areas with potential oil and mineral resources so that it can move away from dependency on oil.

Until earlier this year, when a dispute over transit fees led Juba to stop production, oil revenues accounted for 98% of South Sudan’s budget. North and South Sudan have been unable to find a deal to replace arrangements in a 2005 peace deal that led to South Sudan’s independence last year.

Under the Comprehensive Peace Agreement South Sudan’s oil was split 50:50 between Khartoum and Juba.

“South Sudan is giant country. It is a young nation emerging out of the decades of destructed civil war. It has a lot of challenges but these challenges will be overcome because the government under President Salva Kiir Mayardit is vigilant and determined to deliver services to expectations of our people”, said Bol.

“This country has huge mineral resources. It has gold, zinc, copper and diamonds. Some other minerals have not been discovered. There have been talks about uranium and other minerals”, she said, explaining that exploration needs to be carried out.

The official made the pronouncement weeks after the country’s ministry of commerce, industry and investment signed number of memorandums of understandings with some international companies to invest in various areas.

Some foreign companies including SP Mining, an international company specialising in oil and minerals exploration pledged readiness to establishing relations with the government and to study existing opportunities and possibilities of striking a deal with the country’s Ministry of Petroleum and Mining to conduct exploration in areas with potential mineral reserves.

CHAD

SP mining is one of the biggest mining exploitation and exploration companies in the world and has been awarded 130,000 km2 of mineral concessions by the government of Chad

“In all of the concessions, there are artisanal miners producing significant quantities of some of these minerals. The Government of the Republic of Chad has also exclusively awarded SP Mining the geological survey for the rest of the country, around 1,200,000 km2 and is giving the rights to the company to award itself another 70,000 km2 of its own choice”, reads part of a recent press release.

“This concession, together with the ones it already has in other countries, converts SP Mining into one of the biggest mining exploitation and exploration companies in the world. SP MINING, together with STAR PETROLEUM, belongs to the HYPERSONIC Group. All these concessions have been studied and pre-selected using latest generation technology by the best geologists, who among them are those from Graz University (Austria), famous for its reputation in geology”.

EASTERN SUDAN

SP Mining recently secured concessions in Gadareef, Sudan, where it discovered one of the biggest reserves of gold in Africa and hopes that it would discover a lot in South Sudan if awarded a concession in areas with potential mineral reserves.

The release states that the company develops “very important humanitarian activities” in all the countries where it has a concession and identifies Farshad Zandi as the main shareholder and chairman of SP Mining, while Alberto Cortina as one the most important shareholders of the company, being also a relevant shareholder of several Spanish companies like ACS.

(ST)

Comments on the Sudan Tribune website must abide by the following rules. Contravention of these rules will lead to the user losing their Sudan Tribune account with immediate effect.

- No inciting violence
- No inappropriate or offensive language
- No racism, tribalism or sectarianism
- No inappropriate or derogatory remarks
- No deviation from the topic of the article
- No advertising, spamming or links
- No incomprehensible comments

Due to the unprecedented amount of racist and offensive language on the site, Sudan Tribune tries to vet all comments on the site.

There is now also a limit of 400 words per comment. If you want to express yourself in more detail than this allows, please e-mail your comment as an article to comment@sudantribune.com

Kind regards,

The Sudan Tribune editorial team.

Comment on this article



The following ads are provided by Google. SudanTribune has no authority on it.


s
Sudan Tribune

Promote your Page too

Latest Comments & Analysis


Sudan can not give what it does not have 2018-10-16 14:36:47 The Sudanese Regime Tends to Order Righteousness to others while ignoring doing so for itself By Mahmoud A. Suleiman Heads of Failed States in the African Continent are trying to save other (...)

Ethiopia’s PM should review policies 2018-10-14 20:42:05 Ethiopian Prime Minister Dr Abiy Ahmed needs to change course in some of the policies he introduced in Ethiopia before history that brought him to leadership repeat itself. By Lul Gatkuoth (...)

Evaluating the IGAD-led peace mediation in South Sudan 2018-10-09 13:19:50 Lako Jada Kwajok September 12, 2018, marked the signing in Addis Ababa of the revitalised peace agreement also known as Revitalised Agreement on the Resolution of Conflict in the Republic of (...)


MORE






Latest Press Releases


4th Annual Tony Elumelu Foundation Entrepreneurship Forum Announced for 25th October 2018 2018-10-15 12:38:14 PRESS RELEASE OCTOBER 14, 2018 Africa’s leading entrepreneurship-focused philanthropic organisation, the Tony Elumelu Foundation (TEF), has announced October 25, 2018, as the date for its (...)

Unity State community in Kenya supports Khartoum peace agreement 2018-08-17 08:33:21 PRESS STATMENT 14th Aug, 2018 Re: We shall Rally behind Khartoum Peace Agreement The Unity State Community Association in Kenya was established in 2010 to organize and mobilize the people of (...)

The Suspension of Hurriyat Online Newspaper 2018-04-29 07:04:37 Sudan Democracy First Group 28 April 2018 The Sudanese civil and political circles and those concerned with Sudan were shocked by the news that the management of Hurriyat online newspaper has (...)


MORE

Copyright © 2003-2018 SudanTribune - All rights reserved.