Sudan To Increase Gold Production

President Omar Hassan al-Bashir of Sudan has recently negotiated another peace agreement with the rebel organizations in Darfur. The government has been under attack by the imperialist states., a photo by Pan-African News Wire File Photos on Flickr.

Sudan To Increase Gold Production – President Omar al-Bashir

April 1, 2013 03:17 pm

VENTURES AFRICA – Sudan plans to increase gold exploration this year, President Omar Hassan al-Bashir said on Monday, as the country reported it had sold gold worth $2.2 billion to other countries last year.

Bashir told Reuters that the deepened gold exploration would be done with the assistance of Chinese and Russian companies are interested in African business.

According to Reuters, gold has now become Sudan’s biggest foreign currency earner, partially replacing oil profits that had made up more than 50 percent of state income until almost 18 months ago when South Sudan became independent and took most oil reserves.

Sudan plans to supply around 50 tonnes of gold this year, possibly making it Africa’s third-largest gold miner after South Africa and Ghana. This would thrust Sudan into the top 15 gold producers internationally.

Reuters has reported industry players as saying Sudan is high on the list of exploration firms in Africa because much of the massive country has not yet been looked at.

US restrictions and Sudan’s many skirmishes have prevented many companies in the past from doing business in Sudan.

However, stakeholder curiosity about the country is now on the increase because of the high gold price.