Saudi Arabia has moved to position itself as a major player in Africa’s gold trade, announcing readiness to begin immediate purchases of bullion from Sudan.

Saudi Arabia opens new gold market in Africa, ending Dubai’s long-standing dominance
Saudi Arabia has announced its intention to start purchasing Sudanese gold, positioning itself as a significant player in Africa's gold trade.

This move aims to provide Sudan with a more transparent and profitable channel for its mineral wealth, diverting from reliance on Dubai.

High-level discussions between Saudi and Sudanese ministers explored collaboration in mining sectors to encourage mutual growth.
The agreements include operational readiness of the Saudi Gold Refinery to process Sudanese gold efficiently with access to state-of-the-art facilities.

The development marks a significant shift for Khartoum, which has long relied on Dubai as the primary destination for its gold exports. Sudanese authorities hope the move will provide a more transparent, secure, and profitable channel for the country’s mineral wealth.

According to the Sudan Tribune, the announcement came following high-level talks in Riyadh between Saudi 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, an event that drew participation from more than 100 countries.

The ministers explored ways to deepen cooperation, expand mutual investments, and align their mining sectors to foster economic growth.

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 to start operations immediately.

The Sudanese state mining firm said the Saudi refinery will leverage its integrated laboratories and logistics network to handle Sudanese gold efficiently.

Sudanese authorities hope the move will provide a more transparent, secure, and profitable channel for the country’s mineral wealth.

Sudan pivots from Dubai amid production challenges
Sudan’s pivot to Saudi Arabia comes amid challenges in capturing gold revenue. In 2025, the country produced 70 tonnes of gold, yet only 20 tonnes were exported officially, Finance Minister Gibril Ibrahim revealed.

The partnership is expected to formalize exports, curb smuggling, and restart stalled production and exploration ventures requiring technical and financial support.

Minister Taha stressed Sudan’s commitment to providing all necessary facilities to ensure efficient Saudi investments, while Ahmed Haroun al-Tom, director general of the Geological Research Authority, noted that discussions included granting Saudi firms exploration rights for industrial minerals like talc, mica, chrome, and manganese.

The pivot also occurs amid heightened political and security tensions. Sudan’s military authorities have accused the UAE of recruiting Colombian mercenaries to fight alongside the Rapid Support Forces via UAE bases in Somalia and eastern Libya.

While Khartoum has not explicitly linked the gold shift to this crisis, analysts say growing mistrust of UAE involvement likely reinforced Sudan’s move to diversify export markets.

Engaging Saudi Arabia gives Sudan a reliable, state-backed partner and reduces the risk of political entanglements that could compromise gold revenues.

Analysts say the move not only secures a more profitable market but also challenges Dubai’s long-standing dominance in East and Central African gold exports.

By creating a new hub for bullion trade, Saudi Arabia signals its intent to expand influence in Africa’s resource sector, while Sudan gains a partner capable of modernizing its mining infrastructure and unlocking its vast mineral potential.

Courtesy : Business Insider