Canadian Gold Company Orca Upbeat About Its Investment In Sudan
01 August, 2021
KHARTOUM (Sudanow) - Mr. Richard Clark, President and CEO of the Canadian public company Orca Gold Inc. has said his company was planning to produce 228000 ounces of gold per annum in its Block 14 concession area in Northern Sudan.
Mr. Clark, during an interview with BNN Bloomberg, has described Sudan’s gold potential as “staggering” adding the Sudan has today become the second or third gold producing country in Africa. This is in addition to the big improvement that occurred on the Sudan’s political and economic landscape when the transitional government has distanced extremists, thus found its way to integrate with the international community. In that Sudan’s name was ticked off the list of states that support terrorism.
Economically the biggest part of Sudan debt to the international financial institutions will be cancelled, he said. Sudan will see the cancelation of $60 Billion as part of the initiative of the Highly Indebted Poor Countries (HIPC) and will, accordingly, be eligible to receive development aid.
Mr. Clark said according to their feasibility study his company was planning to produce an annual 228000 ounces of pure gold (5700 kilograms), at a cost of $751 an ounce.
Sudan at the time produces over 100 tons of gold all of it from traditional mining, said Mr. Clark, disclosing that his company would invest $ 350 million in its mining operations as the first and biggest specialized company to enter this domain in Sudan.
Mr. Clark said his company’s mining area is part of the Nubian Gold Belt that extends from Egypt in the North, Saudi Arabia to the East and Eritrea in the South. We have headed towards the Sudan because it is within the heart of this gold-rich belt, he said.
He said his company had tried to enter Sudan a long time ago because of its conviction that change was sure to take place in Sudan how long it might take “but we did not expect the eruption of the Sudanese Revolution 2018-2019.
Some of the encouraging factors is that the Sudanese Government has fulfilled its promise to evacuate our concession from all sorts of unauthorized mining that swept the area and has managed in the last three months to evacuate thousands of illegal miners without any incidents or casualties.
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