Home | News    Wednesday 28 May 2014

Sudan’s gold exports reached $4 billion in last three years, says finance minister


May 27, 2014 (KHARTOUM) – The Sudanese government revealed that gold exports during the last three years reached $4 billion stressing that traditional gold mining covered 50% of the shortfall in the foreign exchange that resulted from the South’s secession in 2011.

JPEG - 12.5 kb
A local brings his gold for examination at a laboratory in the gold market in Khartoum (Photo: Reuters)

The Sudanese finance minister, Badr al-Din Mahmoud, said in statements following the opening session of the special conference on traditional mining on Tuesday, that the central bank approved new policies, including keeping 10% of gold production as a reserve along with the conventional foreign exchange reserves.

He noted the increase in gold production through traditional mining and stressed that gold production since the beginning of the year up until May reached 20 tonnes, saying it helped bridge the deficit in trade balance and cover the country’s need of imports.

Last March, the government projected that gold production in 2014 would reach 70 tonnes compared to 34 tonnes in 2013 following development of the traditional mechanisms of exploration.

The minister of mining, Mohamed Sadiq al-Karuri, for his part, said the traditional mining sector produces between 90% to 93% of the country’s gold, pointing that around one million people are currently working in that sector.

He acknowledged that the government did not yet develop the necessary regulations for controlling traditional mining, saying this has led to a set of problems relating to environmental health and the inadequate use of mercury in gold purification besides failure to comply with the scientific measures for opening gold wells.

The ministry of mining had earlier said it plans to legalize and regulate the informal mining sector through the 2014 mineral wealth code which will be approved by the concerned bodies.

Al-Karuri further revealed introduction of new policies to curb gold smuggling through offering high prices for the purchase of gold from traditional miners and opening additional outlets of the central bank for purchasing gold.

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 2011.

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


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.

Sudan Tribune

Promote your Page too

Latest Comments & Analysis

SOUTH SUDAN: peace or genocide? 2015-10-07 12:59:30 By Richard Moula President Salva Kiir of South Sudan has once again declared a war of genocide and ethnic cleansing on the small ethnic tribe of Moru in Western Equatoria. As from 16th (...)

G-10 critique of establishment order is a complete baloney 2015-10-07 12:59:22 By Gordon Buay Muolana John Luk must be joking to argue that the Establishment Order that created the 28 states violated South Sudan Transitional Constitution without admitting that the (...)

Why rejecting creation of more states in South Sudan? 2015-10-05 16:31:37 By Peter Gai Manyuon South Sudanese president Salva Kiir has unilaterally decreed expansion of the current Ten (10) states to 28 federal states in the country in an unexpected move announced on (...)


Latest Press Releases

S. Sudan civil society groups to the 28 states issue to constitutional body 2015-10-08 17:26:10 South Sudan Civil Society Organizations Submission on the Creation of 28 States in the Republic of South Sudan Press Statement For immediate Release 8th October 2015 Following the announcement (...)

Sudan Democracy First Group Statement on The International Day for Democracy 2015-10-01 22:18:58 22 September 2015 Sudan Democracy First Group (SDFG) commemorated on 15 September 2015 the International Day for Democracy, which the United Nations (UN) marks as a day to encourage governments (...)

Ambassador Buay congratulates South Sudanese diplomats for blocking sanctions 2015-09-19 00:20:30 SOUTH SUDAN DIPLOMATS IN MOSCOW SHOULD BE CONGRATULATED FOR PERSUADING THE FEDERATION OF RUSSIA TO BLOCK SANCTIONS For Immediate Release 9/18/2015 The people of South Sudan are extremely (...)


Copyright © 2003-2015 SudanTribune - All rights reserved.