Image showing gold bars placed on US currency, representing economic strength and investment.
Despite being ravaged by civil war, Sudan has set a new gold export record, earning $1.57 billion in legal sales, according to the Sudanese Mineral Resources Company. The boom offers a rare glimmer of hope for the country’s collapsing economy, even as inflation soars and millions are displaced. Alongside the rise in gold exports, the sector’s workforce has grown significantly, with production projected to bring in substantial revenue in 2025 as well. Yet, nearly half of the country’s gold is reportedly smuggled, meaning the country is earning less than it potentially could. Furthermore, some of Sudan’s major mining areas are under paramilitary control, complicating government efforts to maintain oversight and collect revenue. Watchdogs estimate the true market value of Sudan’s gold could exceed $6 billion, stating that most of it is lost to illicit trade.
Business Insider Africa