Minerals Minister Professor Hashim Ali Salim has affirmed that the gold produced in the country is sufficient to take Sudan out of its economic problems by not exporting the precious metal but instead using it as guarantee to obtain financing facilities.

He revealed during his speech at a weekly news forum of the Ministry of Information on Wednesday that Sudan's gold production had increased to more than 100 tons during the current year, an amount which enables the country to obtain funding from external financing institutions.

The minister revealed that Sudan received offers of financing facilities totaling more than 6.0 billion US dollars from four major companies under the guarantee of the gold produced but added that just 4.0 billion USD would be sufficient to solve Sudan's economic problems.

He emphasized that had the Central Bank of Sudan purchased the gold produced at a reasonable price, it would not be smuggled, and stressed the necessity to establish a gold exchange in the country.

He said the Minerals Ministry would stop the export of a number of minerals in raw form in 2018; especially as Sudan has more than 13 minerals ready for investment, including agricultural minerals, which can be manufactured into fertilizer inside Sudan and sold to neighbouring countries which need fertilizer.

The minister asserted that metal brokers were the cause of the scarcity of mercury by buying, storing and increasing its prices, referring to his Ministry's directive on assigning Sudamine Company to sell the mercury and stop selling it in Khartoum which contributed to the availability of mercury in the markets.

He also pointed out that the activities of sectors under the Ministry contributed to five per cent of Sudan's gross domestic product. The Ministry will indigenize the copper, rare metals, radioactive and precious stones industries in the country from next year.

Source: NAM News Network

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