Sawiris Acquires 40% of Sudanese Ariab Mining

The Sudanese Mining Ministry announced on Thursday that the Egyptian tycoon Naguib Sawiris has seized the French government’s share in Sudan’s Ariab Mining Co. Accordingly, Sawiris has become the major partner for the Sudanese government after seizing 40% of Ariab Mining Company.

Sudanese Mining Minister Kamal Abdel Latif said Sawiris has managed to buy Ariab’s stakes from the French government to eventually become the Sudanese government’s sole partner seizing 40% of the company’s total stakes.

Naguib Sawiris has arrived Wednesday in Sudan so as to take part in the opening ceremony of  Sudan’s first gold refinery. He has met with Abdel Latif to conclude the buyout deal.

Abdel Latif added that he held talks with Sawiris on the development and the renovation of the Sudan’s mining sector and of Ariab Co. to boost production.

There will be a number of joint ventures between the Sudanese Mining Ministry and Sawiris soon as he has shown his willingness to cooperate with the Ministry to develop the country’s mining sector, Abdel Latif added.

Elsewhere, Sawiris announced that he had bought La Mancha Resources which has four operating mines, two in Australia and two in Africa; one of them in Sudan. He noted that after being Ariab’s major partner, he will open more mining businesses besides gold in Sudan.