Home | News    Tuesday 10 June 2014

75% of Sudan’s gold production is smuggled: official

separation
increase
decrease
separation
separation

June 9, 2014 (KHARTOUM) – The Sudanese minister of minerals, Ahmed Mohammed Sadiq al-Karuri, told the parliament on Monday that the government has almost no control over gold produced by traditional miners, saying that tonnes of the precious metal gets smuggled abroad.

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

Al-Karuri said that the inability of local plants to process all gold production led to the spike in smuggling but vowed to enforce strict policies to curb it.

Traditional miners and mining companies prefer to sell their production outside the official channels because the central bank buys gold from them using the official US dollar exchange rate which is substantially lower than the black market rate.

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

According to the ministry of mining, traditional mining represents 90% of gold production in Sudan.

A number of lawmakers said that the central bank should be compelled to buy gold using the world price in order to curb smuggling.

The parliamentary subcommittee on Energy slammed the central bank for exporting most of the gold production saying it made the Khartoum gold refinery work with only 10% of its capacity.

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.

(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


The 62nd anniversary of Torit popular uprising 2017-08-17 00:23:12 By Arop Madut Arop As the people of the Republic of South Sudan mark and celebrate the 62nd anniversary of August 18th, 1955 Torit uprising, it would extremely be important to recall the events (...)

What is the value of water? 2017-08-14 21:28:25 By Innocent Ntabana When you and I breathe in fresh air, the amount I inhale affects you in no way. This is because air is abundant and so there’s plenty of it to go around. We actually take it (...)

The paradox of weapons collection in Darfur 2017-08-13 09:13:14 By Mahmoud A. Suleiman As a Sudanese people who long for stability, peace and security, we have no objection to the decision to collect unlicensed weapons throughout Sudan, but our reservation (...)


MORE






Latest Press Releases


New group formed to gather Nuer in United States 2017-08-17 14:15:50 DECLARATION FOR THE FORMATION OF NUD TO BRING TOGETHER ALL NUER IN THE U.S.A Press Statement The Nuer Union For Development (NUD) The United State of America The State of Nebraska August 15, (...)

A prominent Sudan Women and Civil rights activist passed away 2017-08-14 21:09:47 The Strategic Initiative for Women in the Horn of Africa (SIHA) Khartoum, Sudan-August 14 2017 In the early hours of Saturday 12th August Fatima Ahmed Ibrahim, a renowned Sudanese leader of the (...)

HRW denounces "collective punishment" in South Sudan’s Wau 2017-04-15 07:06:48 Human Right Watch South Sudan: New Spate of Ethnic Killings Urgent Need for Justice; UN Should Increase Patrols in Wau (Nairobi, April 14, 2017) – Government soldiers and allied militias (...)


MORE

Copyright © 2003-2017 SudanTribune - All rights reserved.