Home | News    Wednesday 24 October 2018

Sudan produces 78 tons of gold during three quarters in 2018

separation
increase
decrease
separation
separation

Gold mine workers wait to get their raw gold weighed at a gold shop in the town of Al-Fahir in North Darfur on September 24, 2013. (Reuters/Mohamed Nureldin Abdallah)

October 23, 2018 (KHARTOUM) - Sudan’s gold production has reached 78 tons until the third quarter of 2018 at a 112% performance rate, said the Sudanese Minerals Resources Company (SMRC), the monitoring arm of the Sudan Minerals Ministry.

The State Minister of Oil and Gas Awad al-Nil Dahia on Tuesday visited the SMRC headquarters to check on the company’s plan to promote mineral production in the country.

In statements following the visit, Dahia said he has been reassured about the progress of work at the SMRC, hailing the distinct performance of the company’s employees.

For his part, the SMRC general manager, Mujahid Bilal, said they would continue to promote mechanisms and policies to achieve the highest quality and excellence and contribute effectively to the economic stability in the country.

The SMRC was established in 2014. The Ministry of Finance owns 70% of the company’s share while the Ministry of Minerals and the Central Bank of Sudan own 15% each.

Gold production is now Sudan’s main source of hard currency after the secession of South Sudan where are the two third of its oil reserves before 2011.

Previous restrictions on the hard currency by the Central Bank posed a big challenge impeding the development of the mining industry and encouraging traditional minors to smuggle their production to neighbouring countries.

Last month, the Central Bank applied a flexible exchange rate system allowing a government mechanism to determine the U.S. dollar price on a daily bases. The move has narrowed the gap between the official dollar price and the black market price.

Also, the Minister of Finance and Economic Planning Muataz Musa announced that the Central Bank would purchase the gold at the market rate in order to prevent smuggling.

Sudanese officials said they hope to increase gold production to more than 140 tons during this year and make Sudan the first gold producer in Africa.

(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


Victims of Sexual Violence in Sudan Deserve Justice 2019-06-19 07:16:08 by Tchérina Jérolon, and Daisy Schmitt Today, as we commemorate the International Day for the Elimination of Sexual Violence in Conflict, we demand accountability for sexual crimes committed in (...)

Ezekiel Lol reignites political begging as a Freedom of Expression 2019-06-14 22:49:39 Gatdiet Peter Here, the question is: to what extent does a politician become a “political beggar”? A politician becomes a beggar and (re)focuses on the “politics of begging” as soon as (s)he has (...)

Crisis in Sudan: Will Sudanese mediators unlock the impasse? 2019-06-08 11:47:09 by Luka Biong Deng Kuol* The Optimism for the New Dawn in Sudan Since the eruption of the Sudanese popular uprising on 19th December 2018, the protesters have made history not only in (...)


MORE






Latest Press Releases


Sudanese lawyers and Human rights defenders back calls for civil rule 2019-04-26 10:22:06 Press statement by 55 Sudanese lawyers and Human rights defenders on Sudan Sit-in and Peaceful Protest Khartoum -24/04/2019 We, the undersigned (55) Sudanese lawyers and human rights defenders, (...)

South Sudan’s Lafon youth condemn killings of civilians by Pari community 2019-04-03 21:54:29 Press Statement on the Fighting between Pari/ Pacidi and Lotuko/Lokiri on 24/3/2019 Release by The Lafon County Youth Union: We, the Lafon County Youth Union hereby condemn the atrocities and (...)

Joseph Malwal Dong joined the SPLM/A -IO 2019-04-02 08:35:02 SPLM/A (IO) Press Release 1/4/2019 On Hon. Joseph Malwal Dong Joined the SPLM/A (IO) The leadership of the SPLM/A (IO) would like to seize this precious opportunity to announce to members and (...)


MORE

Copyright © 2003-2019 SudanTribune - All rights reserved.