Revealing the reasons for the escalation in gold prices

Sudan Events – Nahed

An expert in the field of mining, chemical engineer, Ahmed Ezz El-Din Salem, revealed the reasons for the recent increase in the price of a gram of raw gold from 70 thousand pounds to 76 thousand pounds. He said that there is a scarcity of cyanide, which is used in metal extraction operations.
He pointed out in a statement to Al-Ahdath newspaper the rise in cyanide prices, with the price of a ton reaching $18,000 due to tensions in the Red Sea state and the ships being forced to travel long distances to reach the port and the increase in costs, in addition to the rise of the dollar to 1,420 pounds, and the spread of the phenomenon of cyanide smuggling, ceramide and carbon materials, which comes from Egypt at lower prices from what is available in local markets.
He pointed to the materials used in mining operations (cyuria), which is environmentally friendly because it contains 15 to 18% of cyanide and cyanide ore, in addition to active carbon.
He said that these materials are imported from China, India, and Vietnam, and the Houthi events have caused a scarcity of cyanide, noting that cyuria and carbon are used in blenders and miners benefit from them because they are fast, while cyanide is more commonly used by franchise companies. He added that the rise in cyanide prices affected the work of franchise companies and workers in the leftovers sector. This was reflected in the departure of individuals working in the basins, and the basin contains about 50 to 100 carts (leftovers), which are outside the control of the Ministry of Minerals, while the basins constitute a strong competitor to the concession companies because their owners do not commit to paying government fees. Therefore, it affected the concession companies, which pay a percentage to the government of up to 33%. He confirmed the availability of cyuria and carbon, but they are not used in the leftovers ponds.