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Sudan signs nine concession agreements for gold and copper mining agency

By on June 18, 2021 0

KHARTOUM, June 17 (Reuters) – Sudan on Thursday signed nine concession agreements for gold and copper mining with eight local and foreign companies, state news agency SUNA reported.

All the deals are linked to gold mining except one for copper, the agency said, citing Mines Minister Mohamed Bashir Abdalla.

Three companies from Iraq, China and South Africa won four gold mining concessions and a fourth from Armenia won the only copper concession, according to the report. Four local companies have taken four gold claims.

All concession areas are located in Red Sea State, West Kordofan State and Northern State.

Sudan sold 13,327,657 grams of gold worth $ 437,983,965 from 2015 to 2020, Abdalla said Thursday, compared to 2,752,889 grams worth $ 140,805,290 from June 2020 to February 2021. .

Gold sales from March to May reached $ 36,295,970, the minister said at the concession agreement ceremony.

Sudan took steps last year to further open up the precious metal trade to private investors, allowing them to handle all exports and take the matter out of state hands.

Sudan cracked down on gold smuggling to generate more foreign exchange. For years, the central bank has had a monopoly on exports, buying gold locally at fixed prices from nationwide collection sites, which has led to illegal trade.

The country had also approved the creation of exchanges for gold, minerals and agricultural products.

(Reporting by Khalid Abdelaziz and Nafisa Eltahir; written by Mahmoud Mourad; edited by Richard Chang)

(c) Copyright Thomson Reuters 2021. Click for restrictions – https://agency.reuters.com/en/copyright.html

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