Former Director of the Stock Exchange in Sudan: Sudan produces about 90 tons of gold annually

Interviewed by: Nahid Oshi

The former Director of the Stock Exchange, Al-Tayib Al-Jaali, said that gold production in Sudan estimated at about 90 tons annually, making it one of the largest producers in Africa.

Al-Jaali acknowledged, during an interview with (Sudanese Echoes), that the sector suffers from smuggling problems and poorly regulation, touching on the importance of establishing a gold and minals exchange as one of the effective solutions to reduce gold smuggling, as it provides an organized, legal and fair market for trading gold and minerals, which reduces the incentives for smuggling.

Legalization of traditional mining

Al-Jaali said that traditional mining constitutes 80% of gold production in Sudan and needs to be organized and legalized by issuing legal licenses to traditional miners and through dedicated markets where miners can sell their production at fair prices away from illegal brokers and smugglers. He called for the establishment of government purchasing centers that offer competitive prices to traditional miners.

Reputation of Sudanese gold

Al-Jaali called for implementing the concept of responsible sourcing to enhance the reputation of Sudanese gold in global markets to increase demand for it. He asserted that establishing standard gold refineries in Sudan will raise the value of Sudanese gold in global markets because the refinery ensures the production of gold bullion with high purity (99.9%) and this purity enables Sudanese gold to be traded on global stock exchanges, which raises its value and increases demand for it in international markets.