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Sudan’s central bank places moratorium on gold ore exports

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December 12, 2012 (KHARTOUM) – The Central Bank of Sudan (CBoS) on Wednesday issued a ban on the exports of gold ore effective January 2013, state media reported.

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FILE - Sudanese President Omar al-Bashir (CL) attends to the inauguration of a gold refinery in Khartoum on September 19, 2012 (Getty Images)

No reason was given for the decision but the report stated that CBoS will focus on developing marketing channels for it locally through the establishment of precious-metals exchange in Sudan.

Gold mining firms will be allowed to export in line with CBoS policies and only after refining it in the newly built Khartoum refinery.

The government had said that the state-run refinery opened last Septemberin the capital will help reduce the amount of ore smuggled overseas to places such as Dubai. Producers would receive more money for the higher-quality gold, reducing the incentive to smuggle, the state says.

CBoS has tried to end smuggling by buying up gold from local traders, even above market prices, according to industry sources speaking to Reuters.

Sudan says that gold production hit 34 tonnes this year through September compared to 10 tonnes during the same period in 2011.

The East African country is looking for gold to make up for the budget deficit it incurred as a result of losing three quarters of its oil production due to the secession of South Sudan in July of last year.

Sudan hopes to sell 50 tonnes of gold worth up to approximately $3 billion this year, double last year’s gold revenue.

(ST)

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  • 13 December 2012 06:02, by Bentiu Elite

    Gold will not get you out of your economic MESS !!!
    Only DISTANING YOURSELVE FROM SUPPORTING WORLD TERRORISM ,making peace in Blue Nile and Nuba Mountains and putting good relationship with South Sudan and the rest of BIG ECONOMY COUNTRIES like USA will solve that. If U do not do that you are BIG FOOLS .
    God Bless South Sudan.
    SPLA OYEEE.

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  • 13 December 2012 06:16, by zulu

    These folks are leaders who love to host their cocktail parties in public squares, with a beautiful cast, clothes, convincing storylines and an overall production value which seem to be impressive but the guests end up with disappointment.

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    • 13 December 2012 06:20, by zulu

      It is sad because in production and supply, the chain has to continue on a daily basis so that demand is met with ceaseless supply by the producers. Sudan cannot make a halt to disappoint its buyers. If it does them, the announcement that it produces the largest gold in Africa is a farce. There you go. we caught you in less than a year’s time that you are lying.

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  • 13 December 2012 06:38, by Jalaby

    To Sudantribune,
    I’m so surprise that you omitted from your english website the news about rising inflation in south Sudan that jumbed to 41% in November while it was 21.5% in October, amazingly you posted this news in your arabic version but you omitted it from your english version last Tuesday!

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    • 13 December 2012 06:43, by Jalaby

      I’m very sure if this rising inflation about Sudan then Sudantribune would make it as the bold main topic as usually does about Sudan!
      Despite that news was so important but Sudantribune blocked it from the english version, I’ll translate it from Arabic to English because it shows how the south economy is stumbling now and about to fall down!

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      • 13 December 2012 06:44, by Jalaby

        Inflation rose in southern Sudan to 41 percent in November, compared with 21.5 percent in October, at a time where the oil exportation is still on hold
        and its revenue constitutes the main source of income to treasury for that nascent state.

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        • 13 December 2012 06:47, by Jalaby

          The high rate of annual inflation increases the suffering of the exhausted ordinary citizen at the time that southern Sudan pound has lost about 25 percent of its value against the dollar since January.
          Local analysts say that the rate of inflation in fact is higher than what revealed by official data, especially in northern areas that have been getting supplies from Sudan

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  • 13 December 2012 06:38, by master

    salves of south sudan envying us
    hahaaaaa
    no report of death in south sudan today ?
    Hahaaaa

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    • 13 December 2012 06:48, by Thorbanat

      The Republic of South Sudan should also deploy security throughout Kapoeta and other regions in South Sudan where gold is being mine illegally and transported to Khartoum. Actually South Sudan gold contributed 45% to that surrogate gold factory in Khartoum. We have enough deposit and there are reports that some governors’ wives from Greater Equatoria are involve in gold smuggling to Khartoum.

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      • 13 December 2012 06:55, by Thorbanat

        Mr. Jalaby, the South Sudan economy at the moment is stable and actually the South Sudanese pound is gaining at the local market such as in Kenya and Uganda. Please stop your economic sabotage and you ought to focus on how to help Khartoum to sustain it economy rather than witch-hunting the giant economy in Eastern and Central Africa.

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        • 13 December 2012 07:20, by Jalaby

          Mr. Thorbanat,
          What’s wrong with you guys?! before you said Sudan has no oil and stealing our oil, any new oil field that Sudan discovers and adds to its production cycle you claim the ownership of it even if it’s so far from south border, Sudan is so famous internationally by having high production of Arabic Gum and was ranked as number 1 and

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          • 13 December 2012 07:27, by Jalaby

            and Kordofan & Darfour have the most suitable climate and soil to plant it, the cultivation of Arabic Gum in South Sudan is very limited and the weather is not suitable for that and yet you claimed it as yours and Sudan is stealing it?
            Now it’s gold turn, Sudan is stealing your gold, this is very new accusation but believe me your accusation will never stop, do you know why?

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            • 13 December 2012 07:33, by Jalaby

              because elite southerners are so mentally sick of hatred and always believe of "Conspiracy Theory" when it comes to Sudan, Sudan will remain and continue to be your eternal enemy for ever despite you got your separation from Sudan but it turns out the separation never ever solve your problem and will never because the real disease lies among your heart guys and it has no cure!

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              • 13 December 2012 15:38, by Nyakuzuny

                Jalaby ya Mate-Dog are u still craying for our resources ,don’t mention Darfure and Kordofun are you knowing these people while you are using to assissans all the time , ours Golds, Oils ,and others resources we will using Export to others Countries Like ,Ethiopia, Kenya and Uganda were will you going through you are remaing poorest Country.

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          • 13 December 2012 07:31, by Ruach

            Gay: You are a liar!Sudan is a desert with no single tree that can even produce gums!Arabs are known for lies for what they don’t have!97% of your land is bare with no single tree species that can produce gum! During the wars,our resources were exploited or looted by Arabs and took them to world markets and gave it a fake name gum Arabic with no shames or fears.Jallabi don’t lie as u even don’t...

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            • 13 December 2012 07:36, by Jalaby

              Hey Monkey,
              Shut up monkey, what are you doing here? when human speak monkey should shut up or climb up the tree!
              I promise you I’ll soon post your new funny photo with "Kados"!
              esshshshshs.. shut up monkey!

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              • 13 December 2012 08:03, by zulu

                HE COULD BE MONKEY, BUT ARE YOU, URANGUTAN OR AFRICA’S GREEN MONKEY? LOOK AT YOURSELF AND SEE YOUR LIKENESS. i AM BLACK AND SMOOTH. I AM MORE HUMAN THAN YOU WITH A LOT OF WOOL OR FUR ON YOUR FACE AND BODY PARTS

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                • 13 December 2012 08:09, by Ruach

                  Yes Zulu.Our description and phenotypic appearance,we are tall and smooth people with no single cilium growing on our bodies except our heads,but legs,chest,hands or general ciliated body is a human with animal like characteristics! Jallaby is not very far from that. See your body gay

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              • 13 December 2012 15:45, by Nyakuzuny

                Jalaby shut-up your monkey mouth ,while you looking like money , let me ask you , are you from which tribe in Northern Sudan?

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            • 13 December 2012 07:40, by Ruach

              don’t know a single species which can produce gums the gums of South Sudanese!South Sudan is not only rich in its oil reserves but also agricultural potentials,wild life and tourisms,fishery and among others.South Sudan is an emergence African bread basket or world at large due to its too many potentials.No more looting of our resources by fake Arabs!Random pop’n mov’t will be reduced in our soils

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              • 13 December 2012 08:03, by Ruach

                The random momevements of Mesiriya will restricted as their stupid cattle are destroying our land causing soil erosion,destructing our young trees,burning our forests,cutting down our trees,stealing our gums and take it to the world markets and give it a fake name "Gum Arabic!"What a shameless societies of Arabs! Even if u are posting photos which actually resemble like u with ciliated body.

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    • 13 December 2012 07:08, by Ruach

      Sudan is the number 1 failed and terrorist state having economic turmoils. It is a country of gayisms under God ’s punishments

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