March 23, 2011
The Ariab open pit mine has lots of potential for extracting more gold. [January 2011 report]
The Ariab gold mine has been reported as offering 10 tons of the precious mineral in 2010. The mining region is north of Musmar in the Nubian Desert. That's located east of the Nile, and west of the Red Sea Hills, north of the Atbara-Port Sudan highway.
Ten tons of gold can be estimated as having a value of almost $500,000,000. [assuming $1400/oz]
In a public and private partnership, France has signed an agreement with Sudan to research the ground using modern technology to prospect for mineral deposits. Research results would be offered to mining firms to invite their investment for development. Sources for groundwater will be included in the search. Training Sudanese cadres is part of the program.
La Mancha Resources owns 40% of the mine.
Sudan has divided the country into large areas of land "blocks" or "concessions." Mining companies bid for rights to explore and extract minerals from these blocks. View the status of agreements for these regions in this map.