Sudan Still Have Gold
Does Sudan still have gold? The answer to this question is not as simple as it seems. The government of Sudan is not yet willing to share the details of its mining activities with the public. While a spokesperson from the Sudanese government refused to comment on these allegations, the Ministry of Minerals confirmed that Russian mining companies Elianze and Meroe Gold have a presence in Sudan. Despite the ministry’s refusal to comment on these allegations, CNN reported in January 2019 that Russia-linked mining firm M-Invest had invested in Sudan’s gold deposits. The company’s owner, Yevgeny Prigozhin, had advised the Sudanese government how to put down the 2019 revolution.
The government’s attempts to repress the black market have had mixed results. A public agency that is charged with the sector conducted interviews with the production manager of several mining companies. While there are still some problems, the country’s gold industry can still be improved with a political transition. Meanwhile, new miners are taking their chances. The new government will need to clean up the supply chain and ministries, and the gold industry will have to meet international standards.
But it is important to keep in mind that Sudan’s government is still attempting to wrestle control of the gold industry from the security services. The country is still in transition from its former dictatorship to democracy, and there is a thriving parallel economy in the RSF. Mohammed Tabidi, a former security service officer, is optimistic that free trade will help in the transition. While Sudan’s government is still struggling to deal with the aftermath of the revolution, the government is trying to address the issues surrounding the RSF. Traders like Abdulay and Al Gunade perch on cars and signal their intention to trade.
Does Sudan Still Have Gold?
As a result, the country’s gold production has increased 1,200% over the last decade, according to a report by the US Geological Survey. The Minister of Minerals recently confirmed that gold production in the first half of 2018 exceeded 63 tons. However, despite the growth in production, the country has been heavily reliant on the sales of its gold, with the mining industry accounting for 6 percent of its GDP in 2018.
Sudanese exploration companies
The Sudanese government’s efforts to restructure its mining sector have largely failed. However, the government has made a substantial effort to replenish the empty coffers of its Central Bank. With $16bn of gold exported each year, the new government’s new regime will be able to repay that debt. But the question remains, does Sudan still have gold? Once the Central Bank begins to operate in a more open and transparent manner, it may just be that much easier than before.
mining and exploration companies in Sudan
The Central Bank of Sudan has also made significant changes to its gold market, but the impact on the price of the metal remains unclear. The Central Bank of Sudan has long monopolistic control over the gold market in Khartoum. The government’s decision to ban gold laboratories outside the capital city of Khartoum has not yet had a noticeable impact on the price of the metal. As a result, there is a new opportunity to differentiate gold origin.