Sudan pays USD100m for Ariab Mining Company

16 Apr 2015

(MENAFN) The government of Sudan fully bought the Ariab Mining Company after the signing of a USD100 million deal with the Egyptian billionaire Naguib Sawiris, Sudan’s minister of mining said, Reuters reported.

The payment is portioned in a way that the Sudanese government had already paid 50 percent of the total sum, with the rest to be paid in the next four months. Ariab Mining Company runs as an operator of gold mines.

Sudan will dedicate a share from the company towards the private sector to bolster investments in mining, in which gold is an essential aspect pf the economy of Sudan in order to persevere in its well-founded footing amid turmoils.

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