Sudan signed nine gold and copper mining concession agreements with eight local and foreign companies on Thursday, according to Sudan's state news agency SUNA.
The agency quoted Minerals Minister Mohamed Bashir Abdullah (Mohamed Bashir Abdalla) as saying that with the exception of copper, all agreements are related to gold mining.
According to the report, three companies from Iraq, China and South Africa have won four gold mining concessions, and a fourth company from Armenia has won a single copper concession. Four local companies won four gold concessions.
All concession areas are located in Red Sea State, Western Kordofan State and Northern State.
Sudan sold 13327657 grams of gold worth $437983965 between 2015 and 2020, while from June 2020 to February 2021, it sold 2752889 grams worth $140805290, Abdullah said on Thursday.
Gold sales reached $36295970 from March to May, the minister said at the concession ceremony.
Sudan last year took steps to further open up precious metals trade to private investors, allowing them to handle all exports and take business away from the country.
Sudan has been cracking down on gold smuggling to earn more foreign exchange. For years, the central bank monopolized exports and bought gold locally at fixed prices at collection points across the country, leading to illegal trade.
The country also approved the establishment of stock exchanges for gold, minerals and agricultural products.
