Wed, Nov 14, 2012 - Page 9 News List

Gold fever sweeping across once oil-dependent South Sudan

Investors are lining for permits and licenses to explore for gold and diamonds, although it will be several years before commercial mining produces anything

By Hereward Holland  /  Reuters, NANAKANAK, South Sudan

Ministry officials say two firms, New Kush and Consolidated Mineral and Energy Resources Investment Co (CMERIC), are exploring actively on their grandfather licenses.

However, Equator Gold, a British company working on the CMERIC license, says it will still take several years to actually produce anything.

“I think there’s going to be a big rush to get land, but exploration takes a long time,” CMERIC chief operations officer Emma Parker said. “The progress has been slow, but the geology is interesting. There’s big potential.”

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