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Boosting Sudan's Gold Industry: Government Eases Exporting Obstacles and Secures Mining Investments

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BNN Correspondents
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A joint meeting of the authorities related to the mineral sector in Sudan
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Image Credit: Alyoum Altali

Securing Investments and Streamlining Gold Exports

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In a recent joint meeting, the Sudanese authorities committed to eliminating any barriers to the functioning of companies investing in Sudan's mineral sector, particularly focusing on gold production and export processes. In light of the current economic climate, Ahmed Haroun Al-Tom, Executive Director of the Office of the Minister of Minerals, highlighted the necessity to protect and encourage these investments.

He explained that the government had crafted a strategic plan to safeguard the interests of these mining companies in terms of production and product transfer. In addition to the security coordination across different states, an exceptional temporary order had been issued, permitting the sale and export of unprocessed gold after it has been calibrated by the Standards and Metrology Authority in Port Sudan. This calibration process is necessary to ensure the government gets its rightful share from these exports.

Encouraging Domestic Sales and Streamlining Import Procedures

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One significant decision was to permit companies processing mining waste to sell their products domestically, once the state's share has been deducted. Furthermore, it was agreed that the Sudanese Mineral Resources Company Limited should submit a report on the quantities of gold earmarked for local sale.

(Read Also: Sudan’s Central Bank Introduces Temporary Measures to Bolster Bank Financing Amidst Ongoing Crisis)

To deter gold smuggling, the Ministry of Finance and Economic Planning is to liaise with the Golden Nugget Company and other related parties, potentially creating a system for buying corporate gold and free gold.

Simultaneously, the Ministry of Minerals will collaborate with the Customs Authority and other relevant agencies to simplify import procedures and expedite the clearance of production inputs. A notable decision was to revoke the authorization previously given to the Sodamin Services Company, placing the responsibility of organizing the import and sale of chemicals directly under the Ministry of Minerals.

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EconomicDevelopment SustainableGrowth investmentopportunities SudanGoldExports MineralSector
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