At Global Market Prices, Central Bank Started Buying Gold from Exporters

Sudanhorizon – Nazik Shammam

The Central Bank of Sudan has begun purchasing gold from producers at international stock market prices.

Several gold exporters announced that they had delivered their production to the Central Bank under these global pricing terms.

A well-informed source in the Gold Exporters Chamber told Sudanhorizon on Monday that the Central Bank has promised gold exporters to provide them with foreign currency, enabling companies to continue production.

The source noted that the Central Bank’s monopoly on gold exports remains under evaluation, adding that it is still too early to judge the policy given the many challenges surrounding it.

In mid-September, the Central Bank announced a ban on gold purchases and exports by companies or artisanal miners. Under the new regulation, gold purchases are limited to the Central Bank or its authorized agents, while exports are reserved exclusively for the Bank.

Sudan’s gold production in the first half of this year reached about 37 tons.

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