South Sudan: Gold Rush in South Sudan as Oil Prices Drop

Jul 9, 2017 | Andrew Woods, African Business Review
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Gold mining is booming in war-torn South Sudan as the oil industry stagnates amid economic chaos in Africa’s newest nation. The conflict between government and rebel forces in South Sudan has seen tens of thousands of people killed since December 2013. The country relies on oil production for almost all its revenue and hasn’t officially exported any gold although all that is about to change. Dove Mining of Thailand and Panamanian company 4MB have announced the country’s first official gold exports in September. The companies expect initial annual shipments to be worth $500 million with 55 percent of profits to be shared with the government, which has suffered from a cut in the price and output of crude oil.