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Orca to invest in Sudan’s gold

Canada’s major gold producing company, Orca, is set to invest in Sudan’s gold production. Orca Gold CEO Richard Clark announced the plans and said US $350million will be invested for explorations.

The company intends to produce about 60 tons of gold annually in its exploration area in northeastern Sudan. He observed the geological potential in the country is enormous, making Sudan the second or third country to produce gold in Africa, Suna reported.

Steady improvement

The country’s political and economic conditions witnessed a steady improvement following the transitional government’s removal of extremist groups. As a result, Sudan was removed from the list of state sponsors of terrorism and approved for debt relief.

Orca is determined to produce more than 228,000 ounces of gold annually in its concession area in the far northeast of Sudan. According to Clark, a feasibility study for the projects in Sudan revealed the possibility of producing the ounces of gold annually at the cost of US $751 per ounce. Sudan currently produces more than 100 tons of gold, most of which comes from traditional mining.

Ocra Gold is one of the largest gold mining companies globally and is working on developing the 14th project for gold in Sudan, which is about 200 km north of Dongola. Orca Company operates in a mining area located within the “Nubian Gold Belt,” extending from Egypt to Saudi Arabia and Eritrea.

 

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