By Paul Ploumis 09 Jul 2015 Last updated at 07:54:02 GMT
NEW DELHI (Scrap Monster): Gold production by Sudan surged higher during first half of the current year. Addressing the Ministry of Minerals’ Advisory Board meeting on Tuesday, Minister Ahmed Mohamed Sadiq Al-Karuri stated that the country’s gold output during H1 2015 totaled 43 tons, higher by nearly 40% when compared with the output of 31 tons during the corresponding half-yearly period in 2014.
According to the Minister, the country has exceeded its target gold production during H1. Sudan had originally set a target of 38 tonnes for the first half of 2015. The various initiatives and incentives announced by the government have resulted in increased mineral production. The production from regular sector has seen a sharp jump with several companies going online during early-2015. In addition, the Ministry had put in lot of efforts during this period which has helped to legalize and regulate the operations at almost 85% of the traditional mines.
The country produced 71 tons of gold during the entire year 2014. The gold exports revenues during the year exceeded $1 billion, thereby contributing a major share of country’s income. The country is ranked third in gold production after South Africa and Ghana in the African continent. The Minister announced that it aims to raise the country’s gold production to 80 tons during this year. By 2016, Sudan aims to produce 100 tons. The Ministry has set an ambitious goal of becoming the region’s leading gold producer by 2018.
Sudan holds one of the largest gold reserves in the region. The traditional gold mining sector employs more than a million Sudanese. Nearly 132 companies operate in the country’s regular mining sector, of which only 15 are foreign companies. The rapid growth in gold production in 2014 and the first half of the current year is a clear indication that the country may soon eclipse Ghana and South Africa as the top gold producer.