October 23, 2018 / 9:50 PM / 23 days ago

Sudan gold production at 78 tonnes in first 9 months of 2018

KHARTOUM, Oct 23 (Reuters) - Sudan produced 78 tonnes of gold in the first nine months of 2018, the country’s main state-owned mining company said in a statement late on Tuesday, exceeding government expectations by 12 percent.

The Sudanese Company for Mineral Resources said it had achieved 97 percent of the expected revenues set in the state’s budget “despite the challenges facing the mining sector.”

While the mining industry in Sudan has boomed in recent years, officials say most of the gold is smuggled out of the country, depriving the central bank of much-needed foreign currency.

The country is hoping to put an end to the smuggling by reviewing its purchase mechanism and aligning prices with the global market. (Reporting by Khalid Abdelaziz Editing by Chris Reese)

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