Home | News    Thursday 28 July 2016

Sudan to produce 100 tonnes of gold by end of 2016: minister

separation
increase
decrease
separation
separation

July 27, 2016 (KHARTOUM) - Sudan’s Minister of Minerals Ahmed Sadiq al-Karouri said his country expects to produce 100 tonnes of gold in 2016, pointing it would become Africa’s second largest and among the world’s top ten producers by the end of the year.

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

Al-Karouri, who spoke to reporters following his meeting with Sudan’s ambassador to New Delhi Siraj al-Din Hamid, expected that Indian companies would play a major role in metal fabrication and in particular iron in Sudan.

He added that India would also invest in the manufacturing of gold and precious stones, saying that India is among the major buyers of gold globally.

The Sudanese minister pledged to facilitate all the procedures for the Indian investors.

Last month, al-Karouri said that gold production in the first quarter of the current fiscal year reached 22.3 tonnes which generated some $903.13 million.

In April, the Ministry of Minerals said that the country’s production of gold has risen by 3 percent compared to 2015, according to the first quarter of 2016 report.

Near 70% of the country’s gold production in 2015 was produced in the River Nile State. The traditional mining represents 90% of gold production in Sudan.

Sudan currently ranks third in gold production behind South Africa and Ghana but aims to land in the first place by 2018.

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.

Sudan approved a law to regulate traditional mining by granting licenses and specifying areas to work in to protect them from hazardous conditions and smuggling.

It is believed that traditional mining employs more than a million Sudanese but it is still difficult to obtain credible data.

On the other hand, there are currently 132 companies operating in the regular mining sector in Sudan including 15 foreign companies.

(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.


Sudan Tribune

Promote your Page too

Latest Comments & Analysis


Egypt’s Strategic Water Security: The myth and the truth 2017-03-24 08:19:56 By Ermias Hailu Following to the end of the second world war Egypt’s failure to integrate Eritrea to its territories, due to Emperor Haile Selassie’s superior diplomatic skills, the then Pan- Arab (...)

South Sudan famine is a wake-up call to revive dead peace deal 2017-03-20 15:57:01 By Brian Adeba News that a famine has been declared in South Sudan is yet another stark reminder of the ever evolving nature of war-induced fragility in Africa’s newest country. As the world (...)

Africa’s next level of economic transformation 2017-03-20 05:57:00 By Jim Yong Kim The G20 finance ministers met last week in Germany to discuss critical challenges facing the global economy, from climate change to migration to humanitarian emergencies like the (...)


MORE






Latest Press Releases


Statement by South Sudanese Communist Party on the National Dialoguel 2017-03-22 05:44:42 The Communist Party of South Sudan On the Initiative of the National Dialogue The initiative taken by the President of the Republic of South Sudan declaring a need for a national dialogue is an (...)

An Appeal to President of the Republic of South Sudan 2017-03-15 07:22:45 Dear. Mr. President, I write to appeal to you for the release of political detainees now in the custody of the National Security Service at Jebel and other detention facilities. In doing this, I (...)

Militias of Bashir’s Regime and the Proxy War (1) 2017-02-08 21:49:09 Sudan Democracy First Group Militias of Bashir’s Regime and the Proxy War (1) War in the Blue Nile: Militias in the hunt of refugees and displaced population Introduction Throughout its rule, (...)


MORE

Copyright © 2003-2017 SudanTribune - All rights reserved.