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Breaking News:

Russia Plans To Boost Crude Oil Exports

Gold Smugglers Arrested As Sudan Jockeys To Become The #2 Producer

Gold

This week, Sudan's National Intelligence and Security Services reportedly seized 64 kilograms of gold that were to be smuggled to another country; and arrested seven people connected to the smuggling network. Two of those arrested were from another country.

Last year General Mohammed Atta of the NISS said that smuggling gold has become a public security problem, and that additional security directives were in place to stop the movement of gold without the proper government permission. Ahmed Mohammed Sadiq al-Karouri, the Sundanese Minister of Minerals, said the government has virtually no control over the majority of the gold produced by independent miners.

Al-Karouri cited a lack of gold laboratory services as a mitigating factor that has contributed to god smuggling, and vowed to curb the smuggling problem. The Ministry of Minerals told the Sudanese Parliament in June 2014 that 75 percent of the nation’s gold production is smuggled.

Al-Karouri told the Sudanese Parliament on Tuesday that the nation’s gold revenues had reached over 900 million dollars in the first quarter of 2016. He claimed that gold production for the first quarter hit 22.3 tonnes, generating some 903.13 million dollars.

Related: Bribery, Corruption And Changing Contracts: Oil Investment In Iran

The nation plans to produce approximately 100 tonnes of gold this year. Approximately 70 percent of the Sudan’s gold production last year was in the River Nile State. In April, the Ministry of Metals reported that Sudan’s gold production was up by 3 percent from the prior year.

Sudan expects to become the number two gold producer on the African continent this year, and number 9 in the world. Last year, South Africa held the number one slot on the continent and was ranked seventh in the world. Ghana was number two in Africa and number 10 globally. Sudan was number three in Africa and ranked 17 in the world.

By Lincoln Brown for Oilprice.com

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  • Sam on June 17 2016 said:
    What a misleading, click-bait title- "jockeys to be #2."
    - Not mentioning you meant #2 in Africa, not the world.

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