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KHARTOUM(Scrap Monster): Sudan's recently opened Gold refinery began processing gold and silver from neighbouring nations at a relatively cheaper rates compared to other parts of the world.

First batch of refined gold has already been received by Egypt, Eritrea, Chad and the Central Africa Republic from Sudan.

According to the Minerals Ministry, at the new refinery, Sudan is capable of refining 900 kg of gold and 200 kg of silver. Official information about the cost of refining is not available. Sudan hopes to sell gold worth up to 3 billion dollars this year, double last year's gold revenue.

After the oil revenues became out of the country's annual budget for the year 2012, the gold business is boosting the Sudanese economy. Gold worth 2.6 billion dollars has been sold by the Central bank over the past 16 months.

The Government will encourage the traditional mining and opening further opportunities for big companies. The refinery is the first project of its kind in Sudan and the second in Africa for producing and extracting the two minerals with high quality and purity. The idea of establishing the refinery came after the flourishing in the mining industry that started with traditional mining.