Uganda’s Mineral Sector Potential
Despite its potential, Uganda’s mineral sector is still struggling. It is characterized mainly by informal, illegal artisan mining and massive speculation, with no concrete data on known deposit reserves. Uganda is underexplored and thus largely considered a “green field” in terms of mineral deposits potential.
A change in circumstances and prioritizing could lead the sector to become the backbone of economic development and improve the international balance of payments.
Major gold deposits discovered in Uganda
In June 2023, Ugandan officials announced that approximately 31 million metric tonnes of gold ore had been discovered in the country. This could result in as much as 320,158 metric tonnes of refined gold, worth an estimated US$12 trillion. The discovery has the potential to prompt a surge in investment […]