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Al Ain News Morteza Coco
Thursday 9/24/2020 08:50 PM Abu Dhabi time
The Sudanese government has signed 7 concession agreements with foreign and local companies to explore for gold and minerals, as the first fruit of the implementation of new policies in the mining sector of Sudan to take a big leap in implementing them.
Sudan is implementing a 12-month economic program prepared by Sudan as it seeks to build capacity to implement reforms, a key condition for eventual debt forgiveness.
On Thursday, Sudan’s Ministry of Energy and Mining signed 7 concession agreements with foreign and local companies to explore for gold and minerals associated with 4 states out of a total of 20 agreements, the rest of which will be signed next week. .
The Sudanese Ministry said that the exploration concessions are located in 4 states, namely the Nile River, the North, the South of Kordofan and the Red Sea, and that the duration of the agreements is more than thirty years.
He added that 13 similar agreements will be signed in the next week to explore for gold in the states of “North, Nile River, South Kordofan and Red Sea.”
The Sudanese Minister of Energy and Mining in charge, Khairy Abdel Rahman, revealed new policies in the mining sector that will take a major turn in the country if implemented.
He highlighted during the act of signing the concession agreements for gold and associated minerals, that the number of new agreements reaches 20 agreements, 13 of which will be signed during the next week.
He added that the second phase of the exploration concession offer will begin immediately after preparing fully studied boxes suitable for bidding in internal and external competition.
He emphasized that “this is the path we want to follow,” and pointed out that complete technical reviews have been carried out in all agreements to reach agreements that maximize State participation and avoid the misuse of resources.
For its part, the Minister of Finance and Economic Planning of Sudan, headed by Heba Muhammad Ali, confirmed that there are 400 companies working in the field of gold exploration, but only 3 of them went into production.
He highlighted the importance of changing the perception as a new path based on the foundations of success and the efficient use of resources.
The minister promised to overcome all obstacles for companies by offering customs exemptions and following the principle of transparency to eliminate past corrupt practices.
On Wednesday, the Executive Board of the International Monetary Fund approved a 12-month economic program prepared by Sudan as it seeks to strengthen its capacity to implement reforms, a key condition for eventual debt forgiveness.
The Fund’s Deputy Director General, Antoinette Sayyeh, said Sudan’s transition to a transitional government provided “an opportunity to undertake fundamental reforms to address major macroeconomic imbalances and pave the way for inclusive growth.”
Sayyeh said Sudan’s huge external debts and long-standing arrears continue to limit its ability to borrow abroad, including from the Fund, while highlighting the need to strengthen its economy, implement reforms and pay off arrears.
