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South Sudan’s reserves of oil and gold worth $300 hundred billion dollars

Gold

Gold

Albanian Minerals CEO Sahit Muja said South Sudan’s reserves of oil and gold are worth more than $300 hundred billion dollars.
Sudan to increase its national gold production in 2013, according to a statement made by the nation’s President, Omar Hassan al-Bashir.
This statement showed that Sudan had sales amounting to $2.2 billion in gold over 2012.

“With regard to metals and what was discovered from Sudan’s gold, 178 blocks were explored and planned for minerals production including 138 for gold production and 91 companies began working on various metals with 13 companies reaching gold production stage,” President Bashir said.
“The reserves of gold identified are expected to be 940 tonnes. Russian and Chinese companies were granted an area of 769 kilometers in order to re-examine its stockpile of mineral reserves in addition to signing agreements with companies from South Africa and Britain,” he added.

The renewed and increased effort to maximize gold mining in Sudan would be an undertaking aided by the participation of companies from China and Russia, who are themselves interested in expanding into African operations, reports Ventures Africa.

Gold Production in 2013, Sudan aims to provide nearly 50 tonnes of gold an estimated worth of $2.5 billion. Should the nation succeed, that would make it the African continent’s third largest gold miner, following South Africa and The Ministry of Minerals recently stated that 20 out of 90 companies in that sector would be going into production stages by the end of 2013.

The Sudan Vision Daily notes that the Minister of Minerals, Kamal Abdul Latif, stated that the Ministry has been coordinating with numerous companies and has been undertaking a widespread effort to re-energize the nation’s gold production sector. This includes finalizing various cooperation agreements, organizing inter-state gold mining operations, controlling foreign presence, as well as ramping up diversification and R&D operations. Moreover, the Ministry has updated the standard geological map, including more than 840 locations of minerals.
Sudan’s gold is sourced from artisanal searchers—in other words, more than 750,000 ordinary citizens search for gold at more than 100 sites spread all over the nation.

South Sudan had near 4 billion barrels of proven oil reserves as of January 2012, according to the Oil & Gas Journal. About 75% of these lie within South Sudan,in the Muglad and Melut basins.Other analysts have put the combined reserves of the two countries as low as 4.2 billion barrels and as high as 5 billion barrels.
Ahmed Diallo
New York News