This is a best prospect industry sector for this country. Includes a market overview and trade data.
According to the Public Authority for Geological Research, Sudan’s confirmed gold reserves amount to 533 tons, and only 20 percent of Sudan’s land is being exploited for gold. Gold production in Sudan increased by 141 percent between 2012-2017; by 2018, Sudan was the twelfth largest producer of gold in the world. The U.S. Geological Survey (USGS) estimates that 105 tons of gold, 1.9 million tons of zinc, 500,000 tons of copper, and 4,500 tons of silver are in the Arabian-Nubian Shield, located in Red Sea Hills in northeastern Sudan.
The Central Bank of Sudan (CBOS), Ministry of Finance, and Ministry of Energy and Mining opened the Khartoum Gold Refinery in 2012 to improve the quality of its rising gold exports and reduce gold smuggling by offering producers increased payments for higher quality gold, thus reducing the incentive to smuggle. The gold refinery was moved under the authority of the Ministry of Energy and Mining and away from the CBOS in early 2020 and private companies were permitted to begin exporting gold. The Ministry of Energy and Mining established a pricing mechanism to determine gold prices in accordance with prices on the Dubai Stock Exchange. The refinery is actively pursuing international accreditation from the Dubai Multi-Commodities Center and/or the London Bullion Market Association (LBMA) to establish that it meets universal standards for gold refining in order to license bullion and gain global brand recognition for quality and acceptability.
Sudanese government officials requested training and technical assistance to help the refinery in environmental, managerial, and technical practices. The officials specifically seek to improve their industrial practices to meet accreditation requirements.