Gold Exporters to Sudanhorizon: $4 Billion Gap in Gold Revenues Reveals Scale of Production Smuggling

Sudanhorizon – Nazik Shamam

The Head of the Gold Exporters Division, Abdel Moneim Al-Siddiq, has revealed a financial gap estimated at approximately $4 billion between the actual value of gold produced in the country and the officially recorded export revenues during the first ten months of this year.

In an exclusive statement to Sudanhorizon, Al-Siddiq considered the government figures publicly announced sufficient evidence of the scale of the shortcomings in the management of this strategic sector. He noted that state institutions’ claims of achieving $3 billion in gold export revenues do not reflect actual production levels, as the total value of the country’s gold production exceeds $7 billion.

“Do you want a clearer answer than these figures?” he asked.

Sudan’s gold export revenues amounted to approximately $3.5 billion over ten months, according to the Sudanese Mineral Resources Company.

Gold exports, the country’s leading source of foreign currency, continue to suffer from the smuggling of the precious metal and its diversion away from official export channels. This deprives the public treasury of substantial foreign currency revenues at a time of severe economic challenges.

Shortlink: https://sudanhorizon.com/?p=20265