Saudi Arabia has decided to buy gold directly from Sudan, which till now was mainly traded through Dubai. The Saudi Minister gave this information in a big program held in Riyadh in mid-January 2026. Till now, most of Sudan’s gold went to UAE, but now Saudi Arabia wants to strengthen its hold in this market. For this, important talks have also taken place between the ministers of the two countries.
What is Saudi Arabia’s new plan regarding gold?
Saudi Arabia’s Minister of Industry and Mineral Resources Bandar Alkhorayef has met with Sudan’s Minister of Minerals Nour al-Dayem Taha. The meeting took place during the ‘Future Minerals Forum’ held in Riyadh between 13 and 15 January 2026. Saudi Arabia has made preparations to immediately buy and process Sudan’s gold. According to reports, the Saudi government wants to make its place in the African gold trade by reducing the dominance of Dubai. Saudi Gold Refining Company is fully prepared for this work.
How much gold is extracted and what is the game of smuggling?
A total of 70 tons of gold was produced in Sudan in the year 2025, which was 13% more than their target. However, only 20 tonnes of this gold was officially exported, earning the government $1.8 billion. The rest of the gold goes out through smuggling, a large part of which reaches UAE. According to the statement of UAE Ministry of Foreign Trade, in 2024 they imported gold worth $1.97 billion from Sudan. The Sudanese government has also accused the UAE of smuggling and supporting the RSF.
What changes did the Sudan government make in the rules?
The Central Bank of Sudan issued a new order in November 2025. Under this, the government’s monopoly on export of gold has been ended. The new rules are as follows:
Licensed companies can now export at least 10 kg of gold directly at international prices. Companies will have to bring back foreign exchange to the country within 30 days in exchange for exports. Government employees and foreigners are barred from mining except in concession areas.