Give the Gift of Truth This Jewish New Year

The Media Line has been leading for more than twenty years in pioneering the American independent news agency in the Middle East, arguably the first in the region. We have always stayed true to our mission: to provide you with contextual sourced and trustworthy news. In an age of fake news masquerading as journalism, The Media Line plays a crucial role in providing fact-based news that deserves your support.

We're proud of the dozens of young students we've trained in our Press and Policy Student Program who will form the vanguard of the next generation of journalists to the benefit of countless millions of news readers.

Non-profit news needs public support. please help us with your generous contributions.
Donate
The Media Line
We thank our loyal readers and wish you all the happiest of holidays.
Sudan Now Allowing Private Mining Firms to Export Gold
A private multinational firm uses dynamite in October 2011 to mine gold in the Sudanese desert some 500 miles northeast of the capital Khartoum. (Ashraf Shazly/AFP via Getty Images)

Sudan Now Allowing Private Mining Firms to Export Gold

Sudan has enacted a new policy allowing private mining companies to export 70% of their stocks, the goal being to curb smuggling, offset a staggering foreign debt and finance government programs to help the country transition to democracy. The only stipulation is that the miners convert their foreign currency into Sudanese pounds at the official exchange rate through the country’s central bank, and then deposit the proceeds locally. Previously, only the central bank could export gold. Sudan is Africa’s third-largest gold producing nation, with some 93 tons having been mined in 2018. It lost much of its foreign earning potential when South Sudan seceded in 2011, taking most of the country’s oil fields. Miners are not entirely happy with the new policy. They must sell the remaining 30% of their production to the state. In addition, they note that the official exchange rate is barely half of the black market rate, meaning they will end up with fewer Sudanese pounds than they would if allowed to exchange the currency on their own.

Give the Gift of Truth This Jewish New Year

The Media Line has been leading for more than twenty years in pioneering the American independent news agency in the Middle East, arguably the first in the region. We have always stayed true to our mission: to provide you with contextual sourced and trustworthy news. In an age of fake news masquerading as journalism, The Media Line plays a crucial role in providing fact-based news that deserves your support.

We're proud of the dozens of young students we've trained in our Press and Policy Student Program who will form the vanguard of the next generation of journalists to the benefit of countless millions of news readers.

Non-profit news needs public support. please help us with your generous contributions.
Donate
The Media Line
We thank our loyal readers and wish you all the happiest of holidays.

Invest in the
Trusted Mideast
News source.
We are on the
front lines.

Personalize Your News
Upgrade your experience by choosing the categories that matter most to you.
Click on the icon to add the category to your Personalize news
Browse Categories and Topics
Wake up to the Trusted Mideast News source Mideast Daily News Email
By subscribing, you agree to The Media Line terms of use and privacy policy.
Wake up to the Trusted Mideast News source Mideast Daily News Email
By subscribing, you agree to The Media Line terms of use and privacy policy.