KHARTOUM (REUTERS) - Sudan has exported about 13.2 tonnes of gold in the year to April 1, netting it about $603 million in a push to build up the minerals industry to make up for lost oil revenues, the mining ministry said on Monday.
Sudan has been struggling with a severe economic crisis since South Sudan seceded a year ago, taking with it about three quarters of the country's oil production, previously Khartoum's main source of exports and state revenues.
Officials have said bolstering agricultural and mining exports can help Sudan compensate for a resulting shortfall of foreign currency, which has fuelled soaring inflation over the past year.
Sudan exported about 33.7 tonnes of gold for about $1.5 billion in 2011, and 30.3 tonnes for about $1 billion in 2010, the ministry said in a presentation delivered to parliament.
While many experts say Sudan has great mining potential, many also say it is hard to verify overall production figures because unofficial or "artisanal" gold seekers so far account for a large part of Sudan's gold industry.
The government was working to control smuggling and "illegitimate" exports to help develop the industry, the ministry presentation said.
Sudan was supposed to continue receiving some oil revenues via fees paid by the landlocked South to export its oil through pipelines running through the north, but the two have failed to agree on fees.
In January, South Sudan shut down its entire output of about 350,000 barrels per day to stop Khartoum from taking some crude to make up for what it said were unpaid fees.
The dispute has helped create a $2.4 billion gap in Sudan's public finances and caused exports to plunge 83 percent, the finance minister said in May.
Source : http://www.mineweb.com
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