Tue 04 Apr 2023:
Some 41.8 tonnes of gold were mined in Sudan last year, worth 150.9 billion Sudanese pounds ($2.5 billion)., the government said yesterday.
The data came in a statement issued by the Sudanese Mineral Resources Company affiliated with the Ministry of Minerals. It said that “last year’s production recorded 41.8 tonnes.” No figures were released for 2021.
The government expressed its inability to accurately determine gold production as gold is subjected to smuggling by individuals through 800 sites across the country.
Sudan relies on gold as a source for foreign exchange after the country lost three quarters of its oil revenues due to the secession of South Sudan in July 2011.
Economic observers believe that Sudan could achieve revenues exceeding $5 billion annually if it increases its control over gold exploration and production.
It is estimated that over 50% of Sudan’s gold is smuggled out of the country, with proceeds frequently used to finance the internal conflict.
Over the past decade, Sudan has become the third largest gold producer on the continent. In 2021, more than 93 tons of gold were extracted there, 80% of which came from small-scale mines that have spread throughout the territory. It’s a mining boom of which Abu Hamad, located in the Nile State, was the epicenter.
FOLLOW INDEPENDENT PRESS:
TWITTER (CLICK HERE)
https://twitter.com/IpIndependent
FACEBOOK (CLICK HERE)
https://web.facebook.com/ipindependent
Think your friends would be interested? Share this story!
