First Gold Refinery Company launches In Juba
BTC Global Company opened the first gold refinery in South Sudan on Thursday along Bilpham road in Juba.
The company is specialized in buying and selling raw gold, scrap gold and ingots using the most advanced technology and experts.
Vice President for Infrastructure Cluster Taban Deng Gai, hailed the company for unveiling the refinery, but also cautioned that it may face competition from artisan gold dealers.
“it’s not going to be easy thing because there are cartels in those areas, they are mainly Somalis who are selling our gold to Kenyans and Ugandans, there will be a big problem, if you want to buy from them they will increase the prices,” Deng said during the launching ceremony.
He urged the company to give loans to young South Sudanese to supply them with gold, adding that it will be difficult for the company to get gold in remote areas.
“To young South Sudanese, this is an opportunity for you, you can make yourselves small companies to be suppliers of BTC Company, you go and compete with Somalis because you speak the local languages like Bari, Dingiga, your people will sell to you instead of selling to foreigners,” Deng said.
Deng urged foreign investors to invest in productive sectors like agriculture and tourism.
Raafat Mostafa, Representative BTC Global Company said their presence will transform livelihoods of people in regions endowed with gold.
William Aliga, Representative of the Ministry of Mining congratulated the company for installing the gold refinery in the history of South Sudan.
“This is a big investment and great achievement for the mining sector, I hope you have a business plan that will ensure success of your operation,” Aliga said.
Aliga said that there are companies working to make sure that the mining industry develops in South Sudan.
“The Ministry of Mining will be in full support of your operation and our doors will be open 24/7 for any advice that you require from us, I want to mention one important thing in an operation like this you have to be careful with health, safety and environment, this is one thing I know South Sudanese tend to ignore,” he said.
Yel Luol, Undersecretary in the Ministry of Investment said that they are prioritizing the mining, agriculture and tourism sectors in the country.
He urged the investors to register with the ministry of Investment such that they are protected in the field while doing their work.
“Investors are running away from us I don’t know why, it’s my first time to know there is a gold refinery in South Sudan but from the very beginning they didn’t report to us, they are supposed to come and get investment certificate that gives them many benefits like tax exemption, capital allowances, deducted amount among others they get from certificate of investment,” Luol said.
BTC Global comes from 85 years in the Egyptian market, leading the bullion trading and gold refining in Egypt and the Middle East.
