مليارين قرض صينى للتعدين فى الجنوب

China to help South Sudan develop mining sector

China will provide $43 million to conduct a geological study to help South Sudan's plans to hand out mining licenses in its search for gold and other ####ls
Author: Andrew Green (Reuters)
Posted: Monday , 09 Sep 2013

JUBA (Reuters) -

China will help South Sudan develop a mining sector and is in talks to lend it between $1 and 2 billion for road, power and agriculture projects, oil and mining minister Stephen Dhieu Dau said on Monday

Speaking at a joint news conference with the Chinese ambassador Ma Qiang, Dao said China will provide $43 million to conduct a geological study to help South Sudan's plans to hand out mining licenses in its search for gold and other ####ls

He gave no further details on the discussed loan.

In March, South Sudan signed a mining law to attract foreign investment but officials and mining companies say it will take time to develop the sector because of the lack of almost any infrastructure or geological surveys.

South Sudan separated from Sudan in 2011 following decades of civil war. Some officials in the new nation believe it has unexplored deposits of gold, diamonds, copper, uranium, chromite, manganese and iron ore.

"South Sudan will give Chinese companies the opportunity to invest in the Republic of South Sudan in the areas of petroleum and mining industries, and also in other economic circles," Dau said.

Under the new mining law firms can apply for a five-year exploration permit, renewable for two five-year terms, with a maximum area of 2,500 sq. km and a 25-year large-scale mining .

Qiang said in a brief statement China wanted to boost economic cooperation but did not mention the loan talks or take any questions from reporters.

"We want to enhance the friendship and the very good relationship with South Sudan...to encourage a lot of Chinese companies to join the development of South Sudan," Qiang said.

China has sought to bolster ties with South Sudan where it has significant investments in the oil industry going back to the time before the secession from Khartoum in 2011.

A Chinese official denied in March it had promised $8 billion in aid as announced by Juba last year but said more could be offered if the country achieved a lasting peace.

South Sudan's economic development depends on good relations with long time foe Sudan through which the landlocked nation needs to export its crude. Sudan dropped last week a threat to close two export pipelines in a row over alleged support for Sudanese rebels.

(Reporting by Andrew Green; Writing by Ulf Laessing, editing by William Hardy)

China to lend up to $2 billion to South Sudan for mining and other development projects



2 Comments

Comments

Share on email

Share on print


Your email address
.
China to invest in South Sudan mining


China has decided to give South Sudan's mining sector a boost by lending the young state between $1 and 2 billion, the country's mining minister said on Monday. The full amount will be spread between infrastructure projects, the mining industry and agricultural projects.

Together, the two countries will conduct South Sudan's first geological survey, funded by a $43 million Chinese loan, Reuters reports. The study will help South Sudan provide mining licenses as it looks at extracting gold and other ####ls including copper and iron ore.

"We want to enhance the friendship and the very good relationship with South Sudan…to encourage a lot of Chinese companies to join the development of South Sudan," Chinese ambassador Ma Qiang told Reuters reporters.

Earlier this year the country introduced a mining bill aimed at developing the sector and attracting foreign companies.

Currently, the land-locked nation's ####l resources are mined mainly by small-scale freelance miners looking for gold. Oil exports, South Sudan's major source of income, are highly dependent on relations with neighbouring Sudan – South Sudan's former rival in war and now its refiner and transporter of crude.

According to China's state-owned Xinhua news service, South Sudan is preparing an international investment conference in Juba for December 2013.

Co-op Bank eyes mining deals in South Sudan
Co-operative Bank will next week open its first foreign subsidiary in South Sudan as lenders race to reduce reliance on the Kenyan market.

Mr Gideon Muriuki, the CEO, Thursday said the bank opened the first branch in Juba on September 17 and will spread its reach to 10 states in Africa’s newest country.

South Sudan is one of the most lucrative markets in the East African region where Kenyan banks target to take advantage of low penetration of financial services.

Central Bank of Kenya data show that the 11 banks with subsidiaries in the region had a combined pre-tax profit of Sh5.1 billion last year, up from Sh2.3 billion in 2011.

Co-op Bank is set to replicate in South Sudan its model of partnerships with co-operative societies that has given it access to Kenya’s 12,000 saccos and their 10 million customers.


The bank has taken a 51 per cent stake in a joint venture with the government of South Sudan, which is expected to transfer the 49 per cent stake to the co-operatives after three years.

Australia eyes South Sudan’s mining sector
(October 1, 2013) - The Government of Australia has expressed interest in investing in South Sudan’s mining sector.

The Australian government is currently assisting the Ministry of Petroleum and Mining to develop its mining, investment, licensing and mapping laws and regulations, Australian Ambassador Geoff Tooth said.

“We have provided some training; we have provided technical expertise here,” Tooth said.

The Minister of Petroleum, Stephen Dhieu Dau said that a number of South Sudanese students will early next year be given scholarships to study degree courses in the field of mining in Australia.

“Starting from next year, they’ll be offering long-term courses, degrees for those who’ll be studying in the universities in mining fields in Australia. But now, they’re offering licensing systems, where we’ll be now starting to issue licenses,” the minister said.

Mr Dhieu also said the support of the Australian government in the mining sector is important for the diversification of South Sudan’s economy.