Home | Keywords | Subject | Energy, Oil & Minerals | Gold

Gold

Sudan

JPEG - 29.2 kb
Gold bullion blocks pictured at a gold refinery in Khartoum on 11 October 2012 (SUNA)

In September 2012, Sudanese president Omer Hassan al-Bashir inaugurated the country’s first gold refinery in a fresh bid to lift an economy still struggling from the impact of losing the oil-rich South Sudan in 2011.

Sudan’s government is attempting to capitalise on increased gold mining activities primarily by ordinary citizens as well as foreign companies, projecting around $3 billion in 2012. Sudan’s Ministry of Mining reported in September 2012 that 5,000 people are prospecting for gold in over 80 locations across Sudan.

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

But some analysts are skeptical that the gold production will offset only a tiny fraction of the lost oil revenues. So far there is no evidence that the new discoveries have helped to shore up the budget deficit or boost foreign currency inflows.

In the last few years Sudan has witnessed a gold rush which attracted informal miners from all over the country and reportedly some foreigners.

A gold refinery was inaugurated late last year which will produce gold to international standards and help reduce the amount of ore smuggled overseas to places such as Dubai.

The central bank banned exports of gold ore effective this month.

South Sudan

Links



 
 

The following ads are provided by Google. SudanTribune has no authority on it.


Sudan Tribune

Promote your Page too

Latest Comments & Analysis


Why, more than ever, UN Peacekeeping needs global support 2015-05-29 19:51:06 By Hervé Ladsous Eighteen months ago, Bentiu, like most towns in South Sudan, was bustling with the restlessness of markets, people trading and children going to school. UNMISS, the UN Mission in (...)

Blue Nile State: Under Fire 2015-05-28 15:15:54 By Sudan Democracy First Group Before Al Gareeda newspaper was indefinitely suspended by the National Intelligence and Security Services (NISS), as part of a mass censorship of Khartoum (...)

Somaliland’s return to authoritarianism 2015-05-28 06:33:47 By Abdirahman Mohamed Dirye Multiparty politics were introduced in Somaliland a decade and half ago following collective effort to ease power conflict and enhance accountability. Somaliland (...)


MORE






Latest Press Releases


Launch of new nutritional project to support hard-hit older persons in South Sudan 2015-05-27 09:01:33 HelpAge International For immediate Release Nairobi/Juba, Tuesday May 26, 2015: HelpAge International and its partner, the Islamic Relief will on Wednesday, May 27th, 2015launch a three year (...)

European Union helps treat malnutrition in Sudan 2015-05-25 06:49:48 WFP Press Release European Union helps treat malnutrition among Sudan’s most vulnerable 24 May 2015 KHARTOUM - The United Nations World Food Programme (WFP) today welcomed a contribution of €9 (...)

HRW calls to stop arbitrary detention in Sudan 2015-04-30 21:53:00 Sudan: Surge in Detention, Beatings, Around Elections Free Those Held Arbitrarily; Investigate Abuses (Nairobi, April 29, 2015) – Security forces in Sudan<https://www.hrw.org/africa/sudan> (...)


MORE

Copyright © 2003-2015 SudanTribune - All rights reserved.