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South Sudan to commence commercial gold mining this year

June 2, 2017 | No comment
South Sudanese worker holding a speck of gold

The government has signed a contract with two foreign companies to start commercial gold production in Kapoeta and Jubek States in an effort aimed at improving the ailing economy says Dr. Andu Ezbon Adde, the Under Secretary in the Ministry of Mining.

Dr. Ezbon told National Courier in an exclusive interview that with this project the Country would generate half a billion Dollar per year. He said the start of the mining work in September by the companies is yet to be approved by the Council of Ministers soon.

Dr. Ezbon said the Country has lost millions of dollars to illegal miners over the years. An Ounce of gold, which is 28.3 grams, sales at about 400 Dollars in the International Market. The two companies; 4MB from Panama and Dove from Bangkok, have invested 25 Million USD in the project and an additional 10 Million worth of Machinery.

The Contract signed in 3rd May 2017; the companies would be entitled to 45 percent of the profit. According to the Under Secretary Dr. Ezbon, more gold mining will be extended to other parts of the Country three Month after the in Jubek and Kapoeta State. He said the Gold work in Kapoeta will start in Namurnyang area while the one in Jubek is start in Luri.

Source: National Courier