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Sudan gold revenues reach $1,6 billion in first half of 2017

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July 18, 2017 (KHARTOUM) - Sudan’s Ministry of Minerals on Tuesday said revenues of gold exports during the first half of 2017 has amounted to $1,6 billion.

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Gold bullion blocks pictured at a gold refinery in Khartoum on 11 October 2012 (SUNA)

According to the ministry’s semi-annual performance report, the gold production of the first half of this year reached 50.22 tonnes during the first half of this year, saying the share of traditional mining sector reached 42,6 tonnes.

The report pointed that the Central Bank of Sudan (CBoS) has exported 16,1 tonnes while the private sector exported 2,2 tonnes.

Meanwhile, the minister of minerals Hashim Ali Salim has called for the need to form a committee to review policies pertaining to buying and selling of gold, demanding revising mining laws and the fees imposed on gold prospectors.

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, 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.

(ST)

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