POST Online Media Lite Edition


Sudan's gold exports reached $4 billion

Staff writer |
The Sudanese government revealed that gold exports during the last three years reached $4 billion.

Article continues below

The Sudanese finance minister, Badr al-Din Mahmoud, said following the opening session of the special conference on traditional mining, that the central bank approved new policies, including keeping 10% of gold production as a reserve along with the conventional foreign exchange reserves.

Mr. Mahmoud said the increase in gold production through traditional mining and stressed that gold production since the beginning of the year up until May reached 20 tonnes, saying it helped bridge the deficit in trade balance and cover the country's need of imports.

The minister of mining, Mohamed Sadiq al-Karuri said the traditional mining sector produces between 90% to 93% of the country's gold, pointing that around one million people are currently working in that sector.

Mr. al-Karuri acknowledged that the government did not yet develop the necessary regulations for controlling traditional mining, saying this has led to a set of problems relating to environmental health and the inadequate use of mercury in gold purification besides failure to comply with the scientific measures for opening gold wells.

What to read next

Turkey, Sudan sign agriculture deal
South Sudan oil revenue $969 million
Ethiopia and Sudan to launch land transportation service