In his conversation today, Tuesday, he added that the central bank has previously fluctuated between monopolizing and opening the door for the private sector to export. However, he believes that the current circumstances necessitate this action because it offers rewarding prices for miners, reduces gold smuggling, and helps provide substantial foreign currency revenues to meet import needs.
Al-Nayer stated that the most important and better decision than this is to establish a gold exchange, a project we have advocated for since 2015-2016. He noted that the state has not yet realized this project, despite the steps and decisions taken in this regard.
Al-Nayer expressed his support for the current decision until a gold exchange is established because it provides the central bank with foreign currency sources, reduces smuggling rates, and offers rewarding prices for miners, encouraging them to willingly sell to the central bank.
He pointed out that if the private sector had made good use of these features in the past and adhered to export controls, helping to reduce smuggling, this decision would not have been necessary. Al-Nayer expects that these economic decisions will return export rights to the private sector in the future when the exchange is established and the factors that led the Council of Ministers to make such a decision are eliminated.
Regarding the areas controlled by the Rapid Support Forces, Al-Nayer said that this decision does not include them until they are fully liberated by the armed forces and supporting forces. However, he estimated that 80 to 90 percent of gold production occurs in areas controlled by the Sudanese army and state, while only about 10 to 15 percent is in areas controlled by the Rapid Support Forces.
The Central Bank of Sudan announced on Monday that its purchase will be carried out by the bank or its authorized representatives according to global stock exchange prices. On September 2, the Council of Ministers approved the recommendations of the High Economic Emergency Committee, which restricted the purchase and marketing of gold to one governmental entity. The central bank stated in a publication that, in line with the directives of the Council of Ministers, the purchase of gold produced by artisanal mining and mining waste companies is limited to the Central Bank of Sudan or its authorized representatives, according to the Sudan Tribune.
In April 2023, violent and widespread clashes erupted between Sudanese army forces in various regions of Sudan, as both parties attempted to control vital headquarters. Arab, African, and international parties mediated to ceasefire, but these mediations failed to achieve a permanent ceasefire.
