Pages Navigation Menu

Breaking news in Uganda and around the world

Uganda endowed with many unexploited minerals

Uganda endowed with many unexploited minerals

Uganda enjoys a wealth of over 50 minerals ranging from gold, copper, iron ore, vermiculite, tin, tantalite, tungsten, nickel, platinum and phosphate but exploiting them is a problem. “Fully exploiting these minerals remains a work in progress as extensive exploration has not been done.

And due to a fall in metal prices and a global economic downturn, exploration expenditure has plummeted by at least 30% worldwide with an additional 15% to 20% decline in Africa,” said Elly Karuhanga, the chairman Uganda Chamber of Mines and Petroleum (UCMP).Karuhanga said for this and other reasons, UCMP will host the 5th annual Mineral Wealth Conference (MWC).  

Organized in partnership with the African Union Commission (AUC), the Ministry of Energy & Mineral Development and the Ministry of Foreign Affairs, this year’s conference theme is “Attracting Exploration Investment to Uganda’s Mineral Sector to realize its Full Potential”. The two day conference and exhibition will be held at the Kampala Serena Hotel on Wednesday and Thursday.

“President Yoweri Museveni is expected to attend this year’s MWC as he has done several times in the past. We intend to use this opportunity to share our concerns with him and we hope we will be listened to,” Karuhanga said.

Richard Kaijuka, the Vice President of the UCMP said in order to attract responsible investments, it is important that Uganda is knowledgeable of its mineral wealth. Kaijuka said this can be achieved through a comprehensive country exploration programme that involves both the private and public sector investments.

He added that the UCMP will launch the Uganda Mineral Exploration Initiative (UMEXI), a Public-Private Partnership (PPP) that will drive this minerals’ exploration campaign in Uganda. Kaijuka notes that UMEXI will be steered by the UCMP, with support from the African Union Commission. “It will be based on critical success experiences of countries such as Brazil and Australia,” he added.

 

This post was syndicated from The most recent articles . Click here to read the full text on the original website.

Follow us on twitter @theugandatoday

Also, Like us on facebook

Leave a Reply

Be the First to Comment!

Notify of
avatar
wpDiscuz