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

Gold

Sudan

JPEG - 29.2 kb
Gold bullion blocks are pictured at 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
FILE - A local brings his gold for examination at a gold laboratory in the gold market in Khartoum (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


Uganda’s military intervention in South Sudan under international law 2014-04-19 09:37:28 Is there foreign policy principle justifying Uganda’s military intervention in South Sudan civil war and under whose authority could the exercise be carried out? By Kuajien Lual Wechtuor April (...)

Al-Bashir’s decree fell short of Sudan’s demands 2014-04-17 09:57:38 By Mahmoud A. Suleiman Ampril 16, 2014 - This article comes against the backdrop of the Decree number 158 of 2014 passed by the National Congress Party (NCP) president Marshal Omer Hassan Ahmed (...)

Why hiring a lawyer if you can buy a judge 2014-04-17 09:11:43 By Dong Samuel Luak April 16, 2014 - Many people in South Sudan are asking, how long did it take President Salva Kiir to plan all this tragedy befalling our young country now? Recruitment, (...)


MORE




VIDEOS



Latest Press Releases


SDFG mourn the loss of a Sudanese activist 2014-04-20 09:02:39 The Sudan Democracy First Group mourns the loss of Osman Hummaida, a towering figure of the human rights movement in Sudan, and a tireless campaigner for democracy and peace in the country. Osman (...)

UNICEF supports emergency response for children in Sudan with 89 tons of life-saving supplies 2014-04-19 09:47:06 Khartoum, 18 April 2014 --- Today in Khartoum airport, UNICEF received 89 tons of life-saving supplies to support the humanitarian response to children affected by emergencies in various hot (...)

Letter to the South Sudanese government on the ratification of the African Charter 2014-04-16 06:24:18 Letter to the Government of South Sudan on the ratification of the African Charter H.E. Salva Kiir Mayardit President of the Republic of South Sudan Juba, South Sudan CC: Dr. Barnaba Benjamin (...)


MORE

Copyright © 2003-2014 SudanTribune - All rights reserved.