Gold Smuggling Harming Sudan Economy

SMC-

Sudanese Minister of Minerals, Mohammed al-Sadiq Alkaruri, said there are some entities operating at gold smuggling with the intent of harming the Sudanese economy, pointing out that the open borders with Sudan are difficult to control this activity.

He said by introducing a statement of the Ministry of Minerals on the traditional mining in front of the Council of States, on Tuesday, that this matter can be controlled on creating attractive policies by the Ministry of Mines, Ministry of Finance and the Central Bank of Sudan, by buying gold from metals price rewarding.

He explained that the mining activity is spread in 12 states of the 18 States of Sudan’s.

The Council praised the statement in the ministry, and passed unanimously, some members offering proposals to determine where mining bans where farming and herding, also called for identifying areas for farming and grazing, banning them as well as the traditional mining operations, in order to preserve the environment and animal and agricultural wealth.

Sudan is a famous gold producing country. In fact, about 128 gold mining companies are currently involved in the country’s gold sector. The country has been experiencing a gold mining boom in the recent past thanks to the increase in the gold prices internationally.

Gold production continues to grow by every year. This makes the country an important gold mining investment opportunity.

Untapped reserves stand at more than 1,000 tonnes, with excavations unearthing more. The recent find by the Russian company Siberian added 50,000 tonnes in gold reserves, bringing in a healthy $1.702 trillion to the Sudanese treasury.

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