Minerals Ministry: New arrangements to purchase traditional miners gold
November/28 | am:11:09 / No Comments 210 viewsThe Undersecretary of the Ministry of Oil, Gas and Minerals, Dr. Abdul-Jabir Marie has announced the government intention to establish a fund in which banks are to contribute to the purchase gold at international prices to develop gold exports. This came during a meeting held in his office at the ministry premises Tuesday with the leadership of the Financial Investment Bank. Thirty banks will contribute to the bank. Dr. Marie affirmed that the meeting with the Financial Investment Bank came in implementation of new arrangements the government intends to make to buy gold from the traditional miners at the production sites in the various states of Sudan. The Undersecretary of the Ministry of Minerals announced their support for the proposal to establish a gold purchase fund to facilitate the coming of large production of gold to the official channels directly, considering that trend serving the new economic policies that enable the government and the ministry to bring the quantities of gold produced to the official channels which will support the Sudanese economy directly, adding that this could be the nucleus of the Gold Exchange, which his ministry has been seeking with the concerned authorities at the Ministry of Finance since several years. For his part, the Director of the Financial Investment Bank revealed, during his meeting with the Undersecretary of the Ministry of Minerals, that the arrangements for the Fund were underway in accordance with the CBOS policies, expecting the final approval of the Central Bank of Sudan for the outset of the fund operation to be in the next few weeks.
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