Khartoum -- A proposal for the establishment of a gold stock exchange has been endorsed to secure funding, combat smuggling and indigenize gold industry.
The council of the ministry of minerals in its 4th session on Tuesday chaired by the Minister of Minerals Hashim Ali Salim agreed a proposal for the establishment of a gold stock exchange.
The stock exchange aims to secure funding, combat smuggling and indigenize gold industry. The Minister told reporters after the session.
He added that additional measures were taken to attract productive projects and investment in the mining sector. Salim called for setting up responsibilities and economic plans in aid of boosting development.
He revealed that the country is seeing increasing investment in the mining sector, adding that foreign companies have expressed their desire for funding productive projects.
Sudan has been ranked as third African gold producer this year according to the World Bank, with its gold reserve estimated at 1550 tons, according to the ministry of minerals. The Ministry predicted that this year's gold production to exceeds 100 tons.