Sudanese Government Estimates Gold Revenues at $5 Billion

Gold mine workers weigh their gold in River Nile State, July 30, 2013. (Reuters)
Gold mine workers weigh their gold in River Nile State, July 30, 2013. (Reuters)
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Sudanese Government Estimates Gold Revenues at $5 Billion

Gold mine workers weigh their gold in River Nile State, July 30, 2013. (Reuters)
Gold mine workers weigh their gold in River Nile State, July 30, 2013. (Reuters)

The Sudanese government said that the annual production of gold ranges between 120-200 tons with revenues estimated at USD5 billion. It revealed that the number of workers in the mining sector amounts to around 5 million.

Minister of Energy and Mines Adil Ali Ibrahim said that the sector, which he described as one of the country’s most productive after the decline of agricultural and industrial production, is in a dire need of urgent policies to tackle pending problems.

He noted the government’s absent from mining region.

Addressing a conference on mining in Sudan, he remarked that the Central Bank has ceased purchasing gold, adding that the Sudanese Mineral Resources Company Limited has gained access to this field.

Part of the revenues has been allocated for domestic production and will be collected by the company.

The government will not allow any foreign firm to work in remaining mines, except for a Russia firm that is operating under a previous agreement, said Ibrahim.

Sadiq Tawar, a member of the Sovereignty Transitional Council, spoke of conflicts among local communities because the mining sector is liked to the corruption and oppression of the former regime.

Tawar called for enacting regulations that preserve workers’ rights in order to overcome tensions in these communities.

He accused mining companies, which are owned by members of the former regime, of seeking to cause tension to enrich themselves.



Kuwait Seeks to Offer Flexible Incentives to Attract Foreign Investments

Kuwait City (Asharq Al-Awsat file photo)
Kuwait City (Asharq Al-Awsat file photo)
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Kuwait Seeks to Offer Flexible Incentives to Attract Foreign Investments

Kuwait City (Asharq Al-Awsat file photo)
Kuwait City (Asharq Al-Awsat file photo)

Mohammad Yaqoub, Assistant Director General for Business Development at Kuwait’s Direct Investment Promotion Authority (KDIPA), announced that Kuwait is actively working to boost investments in emerging sectors such as the management of government facilities, hospitals, and ports, including Mubarak Al-Kabeer Port.

He added that his country is collaborating with Saudi Arabia on joint projects, notably the development of a railway linking the two nations.

Speaking at the 28th Annual Global Investment Conference in Riyadh, Yaqoub highlighted the 650-kilometer railway project, which is expected to cut travel time between Saudi Arabia and Kuwait to under three hours. He clarified that this initiative is separate from the broader GCC railway network under development.

The official further emphasized Kuwait’s commitment to offering streamlined processes and incentives to attract foreign investment in critical sectors such as oil and gas, healthcare, education, and technology.

Since January 2015, the Gulf country has attracted cumulative foreign investments valued at approximately 1.7 billion Kuwaiti dinars ($5.8 billion). During the 2023–2024 fiscal year, KDIPA reported foreign investment inflows amounting to 206.9 million Kuwaiti dinars ($672 million).

Yaqoub stressed that KDIPA is focused on creating an investor-friendly environment by offering flexible incentives to attract international companies. He noted Saudi Arabia’s achievements in this area and highlighted his country’s efforts to provide comparable benefits to foreign investors.

He also expressed optimism about the potential for growth in foreign investments in Kuwait, emphasizing their role in advancing economic development in line with the United Nations’ Sustainable Development Goals (SDGs).

Yaqoub also underscored the strong synergy between the Kuwaiti and Saudi markets, which he said will help accelerate economic progress across the region.