Historic Surge in Sudan’s Gold Revenues: Estimated Annual Production Value Reaches $13 Billion
Sudanese economic expert Musab Awad said that the record-breaking rise in global gold prices—after the price of an ounce surpassed the $5,000 mark—has led to a sharp increase in the estimated value of Sudan’s gold production, reaching approximately $13 billion annually.
He noted that this figure is nearly equivalent to Sudan’s oil export revenues prior to the secession of South Sudan in 2011.
Awad explained that gold has now become the most strategic resource for Sudan’s economy, amid the decline of other productive sectors and the severe damage inflicted on the country’s economic infrastructure by the war. He stressed that gold could serve as a genuine driver for national economic recovery if properly managed through sound policies that regulate production, curb smuggling, and strengthen the state’s role in oversight and revenue collection.
He added that the continued chaos in the traditional mining sector and the large-scale smuggling of gold abroad deprive the public treasury of billions of dollars annually, calling for urgent reforms that include:
- Restructuring gold purchasing and export policies
- Tightening controls at border crossings and exit points
- Supporting the Central Bank’s monopoly over gold purchases
- Channeling revenues toward currency stabilization and the financing of essential services
These remarks come at a time when gold’s global importance as a safe-haven asset is growing amid international market volatility and escalating geopolitical tensions.
