With International Support, Sudan Takes Surprise Step to Regulate Gold Market

The Sudanese government is seeking to regulate the gold sector and curb the rise in smuggling and illegal mining by obtaining international certification standards that would enable the country to expand its access to global minerals markets.

Mohamed Nour Abdeldaim, State Minister at the Sudanese Ministry of Finance, discussed opportunities for cooperation in the minerals sector — particularly gold — with Fatih Karahan, Governor of the Central Bank of Turkey. The talks covered support for refining operations in line with international standards and efforts to help Sudan secure global certification that would allow it to enter minerals markets more competitively.

According to the Sudanese Ministry of Finance, the Turkish Central Bank Governor pledged to consider addressing Sudan’s outstanding debts and providing support, especially in the areas of technical assistance and training, to strengthen the capacity of Sudanese institutions in managing mineral and financial resources, the Sudanese outlet Al-Mashhad reported.

The ministry explained that the meeting comes as part of Sudan’s efforts to expand its economic partnerships with friendly nations and benefit from international expertise in developing the gold sector, which is one of the country’s most important sources of foreign currency, amid mounting economic challenges.