Saudi Arabia explores new gold trade corridor in Africa through partnership with Sudan

Riyadh’s move to begin direct bullion purchases from Sudan signals a strategic shift in African gold trade and regional influence

Riyadh: Saudi Arabia has taken a decisive step to enter Africa’s gold trade by announcing its readiness to begin immediate purchase of bullion from Sudan, a move that could challenge Dubai’s long-held position as the region’s primary gold hub. The development signals Riyadh’s growing ambition to play a central role in global bullion flows while offering Sudan a new, state-backed export partner at a critical moment for its mining sector.

The announcement followed high-level talks in Riyadh between Saudi Arabia’s 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, which drew participation from more than 100 countries. According to reports in the Sudan Tribune, discussions focused on deepening cooperation across mining value chains, expanding mutual investments and aligning regulatory and operational frameworks to support long-term 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 that the refinery is operationally ready to begin processing Sudanese gold immediately. Sudanese officials said the facility will deploy integrated laboratories and a logistics network to ensure efficient and transparent handling of bullion, a long-standing concern for Khartoum.

For decades, Dubai has served as the primary destination for Sudanese gold exports. That reliance is now being reassessed as Sudan struggles to capture the full value of its production. In 2025, the country produced an estimated 70 tonnes of gold, yet only 20 tonnes were exported through official channels, Finance Minister Gibril Ibrahim has said. Authorities hope the partnership with Saudi Arabia will help formalize exports, curb smuggling and unlock stalled production and exploration projects requiring technical expertise and financing.

For Saudi Arabia, the move challenges Dubai’s long-standing dominance in East and Central African gold exports and positions the Kingdom as an emerging bullion hub with growing influence across Africa’s resource sector. For Sudan, it offers the promise of a more transparent, secure and profitable channel for its mineral wealth — and a pathway to modernizing an industry critical to its economic recovery.

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