Ministry of Mining and Minerals and two national mining companies signed gold mining agreements to mine in South Kordofan and Nile River state.
The two companies are the Mayas Nob Mining Company and Al Hadaf Mining Ltd and the area concerned is Blk 11in Atbara River locality in River Nile State.
On behalf of the mining ministry, the agreement was inked by the Minister Ahmed Mohammad Al Karori and from the Mayas Nob company its Director General Haroun Mohammad Ali Mustafa.
Speaking to the press after the ceremony, Haroun Mohammad Al Mustafa said, “We will fully adhere to the agreement as we embark on our exploration and production efforts.”
He also stressed that the company will safeguard the environment and practice social responsibility towards the citizens of the area.
Sudan is considered to be very promising in terms of gold production. Revenue from gold played a large part in absorbing the shock caused after the secession of South Sudan and the loss of oil revenue. Revenues from gold have helped to fill the gap of oil loss after South Sudan’s secession in 2011 with most of the gold being mined by traditional miners.
About 128 gold mining companies are currently involved in the country’s gold sector. The country has been experiencing a gold mining boom in the recent past thanks to the increase in the gold prices internationally.
Gold production continues to grow by every year. This makes the country an important gold mining investment opportunity.
Untapped reserves stand at more than 1,000 tonnes, with excavations unearthing more. The recent find by the Russian company Siberian added 50,000 tonnes in gold reserves, bringing in a healthy $1.702 trillion to the Sudanese treasury.
Hostile western organizations have exerted great efforts and embarked on campaigns to convince investment companies and businessmen to divest from Sudan. Fortunately for the resource-rich countries their efforts have failed as increasingly more investors are coming to Sudan.