This is one of the effects of Sudan’s return to the international scene, mining companies flock there to invest in gold and copper in particular. On June 17, the government granted nine mining concessions, eight for gold and one for copper. Companies from all over the world can now invest without worries since the lifting of US sanctions.
Sudan wants to become a mining power in Africa. The country has significant reserves of iron, copper, manganese and especially gold. In a few years, Khartoum has become the third African gold producer, mainly due to artisanal gold mines.
But Sudan wants to shift gears and develop a large-scale mining industry. The gradual lifting of restrictions on the sale of gold, in particular the end of the central bank’s monopoly on purchases, has contributed to increasing producers’ activity. And the lifting of US sanctions that affected Khartoum now makes it possible for foreign investors to work there.
Thus, the nine concessions sold by the country’s authorities found winners in record time. Chinese, South Africans and even Iraqis and Armenians have been granted operating licenses. Four Sudanese companies have also been granted mines.
By liberalizing the gold market, Sudan also hopes to end smuggling, which causes the state to lose tens of millions of dollars a year, but also to save the treasury and compensate for the disappearance of rents. 2011 with South Sudan’s independence.
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