Museveni to commission Wagagai gold processing facility in Busia
The ministry says Uganda boasts over 31.5 million tonnes of gold ore, with the Wagagai deposit alone accounting for more than 25 million tonnes, representing about 80 per cent of the country’s total deposits of the mineral.
(Credit: Benon Ojiambo)
By Benon Ojiambo
Journalists @New Vision
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President Yoweri Museveni was Saturday (August 16) scheduled to commission the Wagagai Gold Mine and Refinery in the eastern district of Busia.
The $150 million (about 541.5 billion shillings) investment by Wagagai Mining (U) Limited is located in Alupe village, Mawero parish in Busia Municipality.
According to the Ministry of Energy and Mineral Development, the state-of-the-art facility will refine gold to 99.99 per cent purity and produce up to 1.5 tonnes annually, positioning Uganda to end raw mineral exports and focus on local value addition.
The ministry says Uganda boasts over 31.5 million tonnes of gold ore, with the Wagagai deposit alone accounting for more than 25 million tonnes, representing about 80 per cent of the country’s total deposits of the mineral.
The refinery’s commissioning comes at a time when Uganda has commenced implementation of the fourth National Development Plan (NDPIV) that seeks to grow its economy to $500 billion by 2040 from the current about $63 billion.
In the implementation of the strategy, the government has, among others, prioritised mineral value addition and development to drive this economic growth.
(Credit: Benon Ojiambo)
(Credit: Benon Ojiambo)
Uganda boasts of several mineral wealth deposits, including graphite, iron ore, marble, rare earth elements, copper, and others, offering vast opportunities for investment and growth in the sector.