KHARTOUM: Sudan will start exporting refined gold for the first time next week, hoping revenues from a new gold refinery will help offset economic damage from lost oil income.
Sudan will export 100 kg of gold worth $5.6 million, the first cargo since starting a gold and silver refinery in September, state news agency SUNA said late on Thursday.
The government hopes the state-run refinery in the capital Khartoum will produce gold to international standards and help reduce the amount of ore smuggled overseas to places such as Dubai. Producers would receive more money for the higher-quality gold, reducing the incentive to smuggle, the state says.
Sudan lost three-quarters of its oil output when South Sudan became independent in July last year. Oil used to contribute to more than 50 percent of state revenues.
Sudan hopes to sell gold worth up to $3 billion this year, double last year's gold revenue.
Though the country has great mining potential, it is hard to verify overall production figures because unofficial gold seekers account for a large part of the gold industry.
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