Saudi Arabia has announced plans to begin purchasing Sudanese gold immediately, signalling a strategic shift as the conflict-hit country moves to divert exports away from Dubai after years of sanctions, smuggling and revenue losses.
The move announced on Saturday, follows high-level talks in Riyadh between Saudi Arabia’s minister of industry and mineral resources, Bandar Alkhorayef, and Sudan’s minister of minerals, Nour al-Dayem Taha, on the sidelines of the fifth Future Minerals Forum, which attracted delegates from more than 100 countries, according to Sudan Tribune.
Under the arrangement, Sudanese gold will be processed through the Saudi Gold Refinery, which officials say is operationally ready to receive and refine bullion immediately.
A subsequent meeting between a Sudanese delegation — including Mohammed Taher Omar, director-general of the Sudanese Mineral Resources Company — and Suleiman bin Saleh al-Othaim, chairman of the Saudi Gold Refinery Company, confirmed the refinery’s readiness, citing its integrated laboratories and logistics network.
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For Khartoum, the agreement represents a strategic pivot. Sudan has long relied on Dubai as the primary destination for its gold exports, but authorities say that route has been plagued by opaque pricing, weak oversight and widespread smuggling.
The shift also comes amid heightened political tensions between Sudan and the United Arab Emirates, adding urgency to efforts to diversify export channels.
Gold is Sudan’s most important non-oil export and a critical source of foreign exchange, yet the country has struggled to capture the bulk of its revenues.
Gibril Ibrahim, the country’s Finance minister said it produced about 70 tonnes of gold last year, but only around 20 tonnes were exported through official channels, with the rest lost to informal trade and illicit flows.
Officials believe the partnership with Saudi Arabia could help formalise exports, improve transparency and restore investor confidence in a sector battered by years of instability and, more recently, civil war.
“This cooperation is aimed at ensuring a more secure and profitable route for Sudan’s mineral wealth,” Taha said, adding that the government would provide all necessary facilities to support Saudi investments.
Beyond gold refining, discussions also covered broader mining cooperation. Ahmed Haroun al-Tom, director-general of Sudan’s Geological Research Authority, said talks included the possibility of granting Saudi firms exploration rights for industrial minerals such as talc, mica, chrome and manganese, signalling deeper Saudi interest in Sudan’s underdeveloped mining sector.
For Saudi Arabia, the deal aligns with its push to diversify away from oil and build a global mining footprint. The kingdom announced earlier in January that it had discovered about eight million ounces of gold over the past year, underscoring ambitions to become a major player in global minerals alongside energy.