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Will Sudan overcome its economic stumbles with mining?

Sudan economic stumbles

Khartoum, (Business News Report)|| Sudan is looking for mechanisms to overcome its economic stumbles, in light of the crises that have afflicted it in recent years.

Sudan sees mining, producing and exporting gold as the most important way out of its economic stumbles.

The Sudanese Minister of Minerals, Mohamed Bashir Abu Numo, announced that the Sudan Gold Refinery managed to filter 34.6 tons of gold in 2021.

The Sudanese Ministry of Minerals signed 14 exploration agreements for minerals and gold last year, and the Mining Committee issued 379 mining licenses and agreements.

The General Authority for Geological Research celebrated the Hassad Program 2021, in which the former directors of the authority were honored.

During the ceremony, the Sudanese Minister of Minerals revealed that the Canadian Orca company had achieved a confirmed gold reserve of 100 tons.

He added that the Orca will inject $400 million in investments in Sudan.

Abu Namou said that the establishment of the gold exchange is proceeding at a rapid pace, and that it will set a fair price for gold and stop the smuggling of gold.

He welcomed the arrival of international mining companies in Sudan, and that 2021 was the year of establishing the general framework for the Ministry of Minerals after it was separated from the Ministry of Energy and Mining. He noted that Jabal Amer produced 14 kilograms in 2021.

Abu Namou revealed the structuring of Ariab, while Sudamin company achieved profits of 142 million pounds.

Sudan considers gold an alternative to oil, after the country lost three-quarters of its crude oil reserves when South Sudan seceded in 2011.

For his part, the Director-General of the General Authority for Geological Research in charge, Othman Hassan Abdel Qader, said that the authority implemented its plan for the year 2021 with all professionalism.

He explained that the authority updated Sudan’s geological map, along with tectonic, seismic, and investment maps.

The authority has completed the procedures for field studies, the start of production from Jabal Amer, the installation of a gold factory, and the launch of the second phase of the Jabal Amer mine, he said.

He revealed the processing of 18 agreements for franchising companies in 14 squares.

Meanwhile, he stressed that 2022 will be the year of projects for the authority, noting that eight projects will be allocated for the production of gypsum, salt, and drilling fluids.

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