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Museveni launches gold refinery

watchdog by watchdog
8 years ago
in Business
2 0

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By Namugerwa Martha

President Yoweri Museveni launched a $20 million African Gold Refinery Limited the first in east and central Africa in Entebbe .

This has been done by the government to strengthen legal and monitoring frame work of the minerals sector.

This bold step was welcomed by the minerals sector player s as it is going to increase revenue s.

Analysts following events in the gold industry states that most gold mining in Uganda is done by small scale working
under a loosely implemented mining Act of 2003.

Adam Mugume, the executive director for research at the National Central back told the journalists that Gold exports had been the main trigger in a 1% rise in the country’s exports for 2016.

Gold exports in 2016 were us $336 million almost the same as coffee which recorded $ 340 million.

Uganda’s main sources of gold remain largely unknown, but some of the earliest gold discoveries are Mubende, Kanungu, Buhweju , kigezi ,Busia and Karamoja districts and among others.

Busitema gold mine and Kisita gold mine are some of the early mines established in Uganda.


Do you have a story in your community or an opinion to share with us: Email us at editorial@watchdoguganda.com
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Watchdog Uganda is a portal for solution journalism, trending news plus cutting edge commentaries in the fields of politics, security, business, tourism, entertainment, technology, agriculture, climate change, environment, public health et al. We also give preference to Ugandan community news and topical discussions. The portal also publishes community news and topical discussions.

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