Mining in Uganda - Copperbelt Katanga Mining

Uganda Establishes State-Owned Mining Company to Enhance Mineral Value 1

Uganda has established a state-owned mining company to oversee the government’s equity interests in mining operations, announced Ruth Nankabirwa, the Minister for Energy and Mineral Development. Historically, all mining activities in the East African nation have been conducted by private firms operating under exploration and mining licenses. However, a new mining law approved in 2022 allows the government to compulsorily acquire a 15% free carry stake in all mining operations in Uganda. This initiative is part of broader efforts to increase the country’s share of the value derived from its… Read More Here

Uganda’s Gold Trade Strengthens Import Ties with Tanzania

July 26, 2024July 26, 2024 Constance

Tanzania has emerged as Uganda’s primary import partner within the East African Community (EAC), driven by Uganda’s significant gold trade worth close to $3 billion. Uganda imports unrefined gold, refines it, and then sells the refined product to markets in the EAC, Asia, the EU, and beyond. According to Uganda’s Ministry of Finance, Uganda now imports more goods from Tanzania than from any other East African nation. The Ministry’s Performance of the Economy report for June revealed that, in the 12 months leading up to May, 83% of all products… Read More Here

Gold Economy Mining in Uganda

Uganda Turns to Gold to Bolster Currency and Support Local Miners

July 12, 2024July 12, 2024 Constance

Uganda has joined a growing list of African countries turning to gold to support their currencies. The Bank of Uganda (BOU) will directly purchase gold from artisanal miners to support local miners and reduce the importation of raw gold. According to a report posted on its website, the BOU stated that by purchasing domestic gold supplies, Uganda will strengthen its foreign exchange reserves and mitigate risks associated with traditional reserve investments. The BOU emphasized, “By purchasing gold directly from the artisanal miners, the BOU will also be supporting the livelihoods… Read More Here

Mining in Uganda Mineral Processing Tin

Uganda to open its first tin refining facility next month

April 21, 2024April 21, 2024 Constance

Uganda is set to launch the country’s first tin refining plant in the south-western region next month, Reuters reported. The move is expected to support the country’s efforts to expand its mineral processing capacity. This plant is owned by Uganda-based mining and mineral trading company Woodcross Resources The establishment of the tin refining facility aligns with President Yoweri Museveni’s strategy to maximise the benefits of Uganda’s mineral exports, according to the news agency. The country, which already hosts several gold refineries, is expanding its mineral processing capabilities. Recently, Chinese-backed Sunbird… Read More Here

Mining in Uganda Tin

Uganda Set to Inaugurate First Tin Refining Plant

April 4, 2024April 4, 2024 Constance

Uganda is poised to inaugurate its inaugural tin refining facility in the southwestern region next month, signaling a significant step towards expanding capacity and enhancing domestic value addition to its mineral resources, according to a senior official from the mining ministry. President Yoweri Museveni’s administration aims to capitalize on the advantages of exporting minerals to the East African nation, where several gold refineries are already operational. Recently, Chinese-backed Sunbird Resources secured a license to mine limestone for cement production, further highlighting Uganda’s commitment to maximizing its mineral resources. Irene Bateebe,… Read More Here

Gold Mining in Uganda

Uganda’s Gold Exports Soar Despite US Sanctions, Driven by New Processors

March 20, 2024March 20, 2024 Constance

Uganda witnessed a remarkable surge in its gold exports in 2023, surpassing previous records despite facing US sanctions on a major processor in the country, according to data released by the central bank on Tuesday. Bank of Uganda data revealed that Uganda’s gold exports skyrocketed to $2.3 billion in 2023, a significant increase from $201 million recorded in the preceding 12 months. The surge in exports is attributed to the emergence of new processing facilities, notably the Chinese-owned Wagagai Mining plant in eastern Uganda, suggested Stephen Turyahikayo, an expert on… Read More Here

Mining in Uganda

Uganda’s Makuutu Rare Earth Project Nears First Production

March 11, 2024March 11, 2024 Constance

First production at the Makuutu Rare Earth project in Uganda is scheduled for this March, following the commissioning of a technical facility and demonstration plant at the mine. Developed by mining company Rwenzori Rare Metals Limited, construction took nine months to complete, signaling the completion of Phase 1 of the project. Tim Harrison, Managing Director of Ionic Rare Earths – the parent firm of Rwenzori Rare Metals Limited – said the project “reaffirms our position as a strategic resource for near-term development and a secure, long-term supply of magnet and… Read More Here

International Gold Mining in Uganda

Uganda Strengthens Border Control Measures for Gold Shipments

February 12, 2024February 12, 2024 Constance

Uganda has recently implemented stringent measures to enhance the verification of products entering its borders, particularly focusing on gold shipments. The Uganda Revenue Authority (URA) issued a notice informing clearing officers of a new rule aimed at ensuring the legitimacy of such imports. According to a report by the East African, the URA has written to Ugandan airlines, warning that gold shipments will be denied unless exporters provide proof of payment clearance. This move comes as a response to concerns about the violation of East African Community Customs Management due… Read More Here

Oil & Gas Economy Mining in Uganda

Uganda Harnesses Oil and Gas Resources for Economic Transformation

January 31, 2024January 31, 2024 Constance

Uganda is strategically positioning itself for economic growth by tapping into its rich oil and gas resources while simultaneously embracing a sustainable energy transition plan, as revealed by the Minister of Energy and Mineral Development, Ruth Nankabirwa Ssentamu. The ambitious 25-year plan anticipates a substantial economic boost, with $8.6 billion injected into Uganda’s GDP by 2025, fueled by revenues from oil and gas production. The “last in, last out” approach discussed at the 28th UN Climate Change Conference enables developing nations like Uganda to leverage their resources. This approach aligns… Read More Here