Khartoum 08-31-2021 (SUNA) - The Steering Committee of the Minerals Capital Market (Gold Exchange) has held several meetings since its formation by the Minister of Finance and Economic Planning on August 11, 2021 under the chairmanship of the First Undersecretary of the Ministry of Finance and Economic Planning, and the committee meets weekly until the assignments are completed assigned to it. In a statement today, the committee assured the importance of establishing the stock exchange for the Sudanese economy, and that the committee had set a road map for its work in which it clarified all aspects of establishing the stock exchange, which is concerned with developing the gold sector in particular and the minerals sector in general. The statement indicated that the committee will communicate with the international gold centers, including London, Singapore, the United States of America, Dubai, Turkey and South Africa, to transfer the latest technology and management system to the advanced stock exchanges. The statement explained that the importance of this step lies in the fact that the Sudanese Minerals Stock Exchange aspires to play
an active and complementary role in the system of buying and selling minerals, and this requires modern systems that are compatible with each other. From several nominations for different sites, the committee is also working at the present time to obtain the highest ratings for the Sudan Gold Refinery. The statement clarified that one of the important objectives of the Stock Exchange is to play an active role in the growth and renaissance of the Sudanese economy by limiting smuggling and making it a financially losing practice “before it is a security loser” by providing an appropriate and safe environment for traders and individual miners and companies, inside and outside Sudan, in which the seller and the buyer meet and find in it all Support to access and deal with the stock exchange and trade at the best prices compared to the price of Global stock exchanges, which will lead to an increase in the sector's contribution to the national GDP, increase in export revenues and the creation of new jobs. The committee stated that at the forefront of the Stock Exchange’s tasks is achieving social justice by providing a means for small miners to obtain the vast majority of the value of their production by providing small-sized contracts that enable them to participate and contribute to the stock exchange, and this was confirmed recently in a television interview with the Prime Minister.
The stock exchange will also offer financial instruments related to metals that will allow investors in the field of precious metals through the stock exchange and will have a significant impact in removing some distortions in the economy resulting from the preference of investors in Sudan to invest in the fields of land and foreign currencies. The Committee also confirms the interest of all stakeholders from mining partners, goldsmiths and exporters, and that their interests are present on the agenda of the Committee in all its meetings and decisions. The Steering Committee works for the mineral capital market to be a regional center for the gold and minerals sector in general, due to the huge mineral resources that Sudan enjoys. He also aspires to lead in the pricing of some minerals that do not have central exchanges or that their presence is very limited. At the conclusion of the statement, the committee confirms that all state bodies are interested in the metals exchange project, and there is interest from the highest leaders of the state to quickly establish it. In the project of establishing the metal capital market.