Uganda sets up State-owned firm to take stakes in mining operations
Uganda has formed a State-owned mining company to manage the government's equity interests in mining operations, its minister for energy and mineral development, Ruth Nankabirwa, said.
All mining activities in the east African country have previously been done by private firms after obtaining exploration and mining licenses.
Under a new mining law approved in 2022, the government can compulsorily take a 15% free carry stake in all mining operations in the country.
The move is part of broader efforts to expand Uganda's share of the value from its mineral wealth, following in the footsteps of other African countries such as Tanzania.
"This company will manage the state's commercial interests in the mining industry. It will do so through strategic partnerships with young developers in the private sector," Nankabirwa told a mining conference in Kampala on Tuesday.
President Yoweri Museveni's government has also been pushing investors in the sector to process minerals and add value domestically instead of exporting them in raw form.
In April, Uganda launched its first tin refining company by mining firm Woodcross resources, which refines tin ore to 99.9% purity.
Chinese-backed Sunbird Resources has also been licensed to mine limestone for cement production in Karamoja region in Uganda's northeast region, while Australia's Ionic Rare Earths has been licensed to mine and process rare earths.
Ugandan geologists say the country has large deposits of a range of minerals including gold, cobalt, copper, iron-ore, rare earths, among others.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
EIMS is an independent specialised environmental consulting firm offering the full spectrum of environmental management services across all sectors...
VISIT SHOWROOM
The Beneficiation Academy is a certified training institution that follows all compliance legislation and is accredited with various Sector...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
