Saudi gold refinery to buy Sudanese bullion as Khartoum shifts from Dubai
Saudi Arabia’s state-run gold refinery said ready to start buying Sudanese bullion immediately, Khartoum’s state mining firm said on Saturday, as Sudan tries to shift gold exports away from Dubai after years of sanctions and smuggling.
The announcement came as Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef met with his Sudanese counterpart, Nour al-Dayem Taha, to discuss ways to enhance cooperation and develop mutual investments. The discussions took place on the sidelines of the fifth Future Minerals Forum in Riyadh, an event that drew participation from more than 100 countries.
The two ministers reaffirmed the strength of bilateral relations and explored joint opportunities in mineral exploration and resource management. Alkhorayef and Taha emphasized the strategic importance of aligning their mining sectors to foster economic growth in both nations.
Following the ministerial talks, a high-level Sudanese delegation, including the Director General of the Sudanese Mineral Resources Company, Mohammed Taher Omar, met with Suleiman bin Saleh al-Othaim, chairman of the Saudi Gold Refinery Company. The Sudanese state firm said in a statement that al-Othaim confirmed the refinery’s readiness to begin purchasing operations immediately, leveraging its integrated laboratories and logistics network.
Minister Taha emphasized that the Sudanese government is prepared to provide all necessary facilities to ensure the efficiency and effectiveness of Saudi investments. He noted that Khartoum is committed to creating a stable environment for strategic partnerships that can help modernize the country’s mining infrastructure.
The Director General of the Sudanese Mineral Resources Company added that the cooperation aims to restart stalled production and exploration companies that require technical and financial support. This effort is expected to align the interests of both nations while providing Sudan with a more transparent export route.
Ahmed Haroun al-Tom, director general of the Geological Research Authority, said the discussions also involved granting the Saudi company exploration blocks and expanding the extraction of industrial minerals. These include talc, mica, chrome, and manganese, which are considered to have high economic feasibility and relatively low extraction costs.
The pivot to Saudi Arabia comes as Sudan faces significant challenges in capturing gold revenue. Official statistics show that Sudan exported only 20 tonnes of gold through official channels out of a total production of 70 tonnes in 2025, according to statements made by Finance Minister Gibril Ibrahim last Thursday.
Source: https://sudantribune.com/