Sudan’s gold production rises by 3 percent
April 19, 2016 (KHARTOUM) – The Sudanese ministry of minerals has declared that the country’s production of gold has risen by 3 percent compared to last year, according to the first quarter of this year’s report.
The report which was reviewed by the office of the under-secretary of minerals Najam El Dain Dawood, has also declared that the ministry will increase the control over the mining sector, along with completion of infrastructure regulators.
Sudan government’s forecasts predict the country’s annual production of gold will reach 100 tonnes in 2016 to become the biggest African and the world’s ninth gold producing country.
The traditional miners and the mining companies reportedly smuggle parts of their production to avoid the Sudanese central bank policies which force them to buy the gold with the law official rate of the U.S. dollar. Meanwhile smuggling the gold allows them take advantage of the high price of the dollar in the black market
Around 200 local companies have taken advantage of new legislation that has opened up spaces of the country to miners, establishing operations across eight states, according to Sudan’s ministry of minerals.
(ST)