Opening New Markets for Sudanese Gold Exports in Qatar and Oman
The Sudanese Mineral Resources Company announced the opening of new markets for gold exports in both Qatar and Oman. The state aims to boost exports to ensure stable financial inflows amidst complex economic circumstances.
Sudan’s Production in a Global and African Context
Sudan saw a 100% growth in gold production during the first nine months of 2024 compared to 2022, with export revenues exceeding $1 billion during the same period, according to the Sudanese Mineral Resources Company. With this performance, Sudan continues to solidify its position as a leading gold producer in Africa, ranking fourth in production behind South Africa, Mali, and Ghana in 2022.
Globally, gold production reached approximately 3,000 tons in 2022, with Africa contributing about 27% of this total.
Conclusion
Through these steps, Sudan aims to strengthen its role in the global gold market, contributing to national economic support and financial stability.
Source: Sudanese Mineral Resources Company Facebook Page, CEIC Data, Global Trade Monitoring Data; Central Bank of Sudan Reports.
17 NOV 2024
Geological Fact
The Role of Artisanal Mining in Sudan’s Gold Sector
Artisanal and small-scale mining (ASM) is a key contributor to Sudan’s gold production, accounting for nearly 80% of the country’s output. This form of mining is widespread across the country, particularly in remote regions like the Blue Nile and Darfur. Despite its economic significance, ASM in Sudan faces challenges such as environmental degradation and the use of hazardous chemicals like mercury. Efforts are being made to formalize this sector and improve the safety and efficiency of gold extraction. Source: “Artisanal Mining and Its Impact on Sudan’s Gold Economy,” Journal of African Mining, 2024.
