Sudan gold production reaches 64 tonnes

November 23, 2014 (KHARTOUM) – Sudan has announced that the production of gold from January through October amounted to 64 tonnes, up from 34 tonnes in 2013.

Gold has become one of Sudan’s largest exports which partially compensated for the loss in oil revenues, which accounted for more than 50% of income until 2011 when South Sudan seceded, thus taking with it most of the country’s oil reserves.

According to the minister for minerals, Ahmed Mohammed Sadiq al-Karuri, traditional mining accounts for 93% of gold production.

The minister nonetheless expected a decline in this ratio due to the entrance of gold production companies, which he said represented 15 different countries, adding that eight companies are already in the production phase.

He said pointed to an agreement on the establishment of a Gold Exchange alongside the Khartoum Stock Exchange and the Central Bank of Sudan (CBoS).

Al-Karuri stressed that the minerals sector will lead “the next boom in the future”.

The minister vowed to regulate traditional mining by issuing licences and restricting their work to specific locations to protect them from dangers associated with this activity and prevent smuggling in the process.

In a related issue, the River Nile state government has signed an agreement granting a concession for gold to Arcadia mining company.

In recent years a growing number of foreign gold companies have expressed interest in obtaining licences to operate in Sudan.

(ST)