Jacob Maiju Korok, Deputy Minister of Information addressing the media after a Council of Ministers meeting on Friday, October 20, 2023. (Photo: Charles Wote)

The National Cabinet on Friday approved 72 million dollars to the Ministry of Mining for the establishment of gold refinery and Mineral Trading Centre to benefit small-scale and artisanal miners in South Sudan.

This came after the Minister of Mining Martin Gama Abucha presented a memo seeking the endorsement of a steering committee for the establishment of the mineral processing and trading facilities.

Deputy Information Minister Dr. Jacob Maiju Korok said the proposed project estimated to cost $72 million will ensure that artisanal and small-scale miners are fairly valued and rewarded in the country .

Deputy Minister Korok said the creation of the Mineral Trading Center is crucial for providing a structured market for local miners.

“The trading center aims to ensure that artisanal and small-scale miners benefit from the mineral. The Minister of Mining requested the cabinet to approve the establishment high-level steering committee and the technical team,” he told reporters.

He said the cabinet directed the Ministry of Finance to pay the agreed previously approved amount for the establishment of the refinery and Mineral Trading Centre in South Sudan.

In January 2024, South Sudan signed an agreement with a Qatari company to purchase gold from small-scale dealers in order to further formalize the country’s gold trade and provide miners with a reliable market.

In March 2023, Egyptian company BTC Global launched the first and only gold refinery in South Sudan, which buys raw gold for processing.