Happy Ending for Morocco’s Managem in Sudan
On May 8, Sudanese authorities seized a Managem gold shipment causing an obstruction to the company’s gold exports in Sudan despite “ having completed all the administrative formalities in accordance with the regulations in force.”
“Local authorities have been able to acknowledge our scrupulous compliance with regulatory procedures,” the company said in a statement.
It added that “this positive outcome” will enable it to finalize the export of the shipment to its customer.
Managem has been operating in Sudan for more than 10 years and is developing the Gbagba mine through its subsidiary MANUB.
Managem has invested $120 million in exploration and extraction activity in Sudan where it has set up one of the country’s leading industrial plants.