Approval of Order to establish Gold and Minerals stock exchange in Sudan

The Sudanese Ministry of Minerals has approved an order to establish the Gold and Minerals Exchange, issued by the Technical Committee of the Council of Ministers.


Khartoum: Altaghyeer


The Undersecretary of the Sudanese Ministry of Minerals, Abdullah Kodi, confirmed during his visit Wednesday to the Khartoum-based Gold and Minerals Company “Sabayik” that work on establishing the stock exchange is progressing well.

For his part, the General Director of the General Authority for Geological Research affirmed that the Authority’s doors had been opened for cooperation with “Sabayik” in a number of fields.

He pointed out that the cooperation efforts include traininggeological cadres working for the geological research authority, and developing the mining sector in general.

For his part, the director of the Khartoum Gold and Minerals Corporation Stock Exchange, Essam El-Zein, confirmed that an integrated exchange will be prepared to operate whenever the responsible authorities desire.

He pointed out that the establishment and operation is of stock exchange is important to Sudan, and that they in the company offered several options to operate the stock exchange.

The company, as per Mr. El-Zein, is interested in investing in the neglected financial field in Sudan, and considered that investing in gold is considered a safe haven for investments.

Meanwhile, the company’s mining sector director, Mujahid Bilal Taha, revealed that the” Sabayik” works in a number of axes.

The most important of these is the mining investment, which it works in through seeking to obtain additional mining blocks.

He pointed out that, during the exploration stage, they will betargeting a company ranked among the top ten companies in the world in this field.

That is besides seeking work with a different vision in the field of gold trade, mining services and precious stones.

Taha added that they will present several projects for cooperation between the company, the Ministry of Minerals, and the General Authority for Geological Research.

On top of these will be work on establishing integrated laboratories, as well as training, studies, and organizing specialized workshops to serve the mining sector.

The mining director pointed out that they hope to help the Geological Research Authority in obtaining squares for large and small precious stones mining.

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