• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • Australia
      North America
      World
    Login
    Investing News NetworkYour trusted source for investing success
    • North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Metals
    Tech
    Life Science
    Precious Metals Market
    Precious Metals News
    Precious Metals Stocks
    • Precious Metals Market
    • Precious Metals News
    • Precious Metals Stocks
    gold investing

    Gold Mining in Sudan

    Investing News Network
    Oct. 02, 2015 12:36PM PST
    Precious Metals
    Gold Investing

    Last November, Sudan signed 10 agreements for gold and iron mining, as the African nation plans to more than double its gold output to 50 metric tonnes in the current year.

    This article was originally published on Gold Investing News on January 6, 2011.
    By Dave Brown – Exclusive to Gold Investing News
    The northeastern African country of Sudan is the largest country in Africa and the Arab world, and the tenth largest in the world by area.  More well known for civil conflict than resources, the country possesses significant mineral wealth within its territory including: petroleum, natural gas, uranium, tin, silver,  manganese, zinc, iron, lead, copper, cobalt, nickel and gold.
    Last November, Sudan signed 10 agreements for gold and iron mining, as the African nation plans to more than double its gold output to 50 metric tonnes in the current year. Four of the agreements were signed with international companies including a Sudanese subsidiary of the Guernsey-based Toro Gold Ltd. and a division of Rika Global Impex Ltd., based in Mumbai. The agreements grant the companies exploration rights in the states of Northern Kordofan, Al-Shamaliya, Nahr al-Nil and the Red Sea, which are all located in the north of the country. Sudan expects to sign 50 additional agreements in 2011 as it is experiencing “a rush” from foreign companies for gold exploration, including from Australia, Europe and the US, according to Sudan’s Mining Minister, Abdel Baqi al-Jailani.  Mr. al-Jailani said that “over 200,000 of Sudan’s artisanal miners, who camp in arid land in search for gold, have produced 23 metric tonnes of gold between January and October.”


    Political Question Mark
    For investors with a relatively high appetite for risk, some consideration should still be accounted for with regards to the Darfur conflict aftermath, the lack of basic infrastructure in large areas, and a reliance by much of the population on subsistence agriculture ensuring much of the population will remain at or below the poverty line for years despite rapid rises in average per capita income over recent times.
    According to Sudan’s Finance Minister, Ali Mahmoud Abdel Rasoul the country relies too heavily on oil exports for most of its foreign currency earnings and is planning to diversify its economy to expand into gold mining and agriculture in the country’s north as the oil-rich region of Southern Sudan prepares for an independence vote this month.  The BP Statistical Review of World Energy lists Sudan as sub-Saharan Africa’s third largest crude producer, pumping about 490,000 barrels a day.
    The independence referendum is considered a key component of a 2005 peace agreement which ended the two decade civil war between Sudan’s Muslim north and the south, where Christianity and animist beliefs dominate. Sudan’s north and south have not agreed on post-referendum arrangements such as responsibility for foreign debt and how to share the nation’s oil wealth with both sides currently splitting revenue from oil pumped in the south.
    Potential Opportunity
    La Mancha Resources (TSX:LMA) is currently producing gold at the Hassaï mine and intensively exploring and developing the volcanogenic massive sulphide (VMS) deposits underlying the Hassaï mine open pits.  The Hassaï mine in Sudan has been in operation since 1992, with 18 open pits developed over the years to extract high grade oxide ore. The company is expecting to have produced 30,000 ounces of gold for 2010 with the ore coming from an enriched upper zone of a much larger mineralized system.
    La Mancha anticipates this exploration will represent the cornerstone of its mid-term growth. They are also investigating the potential of exploration tenements in the Nuba Mountains region, in the archaeologically significant Arabian-Nubian Shield of central Sudan.  The company operates two producing gold mines in Africa, and a third in Australia. It also has one other mining project under development in Australia (White Foil), and holds a portfolio of some 30 exploration projects in Africa, Australia and Argentina.

    Junior Gold Mining Stocks
    According to a recent report by Casimir Capital, constituents in the proprietary Casimir Junior Gold index outperformed both senior gold producers and physical gold during 2010. The Casimir Junior Gold index rose 47.6 percent during 2010, compared with 29.4 percent for the Major Gold share index and 29.7 percent appreciation for bullion. The junior index constituents include operating pure junior gold mining companies that went public prior to 2005 that currently have a market capitalization of between $75 million to $1.2 billion, with a latest monthly average volume of shares traded greater than 150,000.
    Casimir Capital is anticipating another strong year for both junior companies and physical gold, primarily driven by the same underpinning fundamentals that guided gold prices loftier during the previous year. Factors include Casimir’s forecasts for the continuity of relatively high US budget deficit  at approximately 8 percent; US government spending to attribute for a high percentage of GDP at 23-24 percent, and for growth in the US federal debt as a percentage of GDP. European Union sovereign debt and US dollar weakness will continue to be themes which should bolster the Casimir bullish investment thesis on the 12 month future value of gold.
    european unionargentinajunior gold mining companiesgold mines in africaaustraliaeuropegold producersgold investingcasimir capitalgold mining companies
    The Conversation (0)

    Go Deeper

    AI Powered
    Gold map of the world over black background.

    10 Largest Producers of Gold by Country

    Rows of gold bars.

    Top 10 Gold Reserves by Country

    Latest News

    FALCO ANNOUNCES CLOSING OF BOUGHT DEAL PRIVATE PLACEMENT

    Heliostar Presents Stronger Economics at the La Colorada Mine in Updated Technical Report

    Apollo Files NI 43-101 Technical Report for the Calico Silver Project Updated Mineral Resource Estimate

    Prince Silver Corp Announces Listing on the Frankfurt Stock Exchange Under the Symbol T130

    NevGold Discovers High-Grade Oxide Antimony "Bullet Zone" From Surface with 2025 Step-Out Drilling: 14.90 g/t AuEq Over 4.6 Meters Within 2.42 g/t AuEq Over 53.3 Meters at Limo Butte, Nevada

    More News

    Outlook Reports world

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
    • Energy
      • Uranium
      • Oil and Gas
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Industrial Metals
    • Agriculture
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Gaming
      • Cleantech
      • Emerging Tech
    Life Science
      • Biotech
      • Cannabis
      • Psychedelics
      • Pharmaceuticals

    Featured Precious Metals Stocks

    JZR Gold

    JZR:CA

    Blue Jay Gold

    Providence Gold Mines

    PHD:CC

    Mount Hope Mining

    MHM:AU

    Walker Lane Resources

    WLR:CC

    Rua Gold

    RUA:CC
    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES