https://en.sputniknews.africa/20241002/uganda-forms-first-state-owned-mining-company-to-manage-stakes-in-operations-1068523092.html
Uganda Forms First State-Owned Mining Company to Manage Stakes in Operations
Uganda Forms First State-Owned Mining Company to Manage Stakes in Operations
Sputnik Africa
All mining activities in Uganda have so far been carried out by private companies following the obtaining of exploration and mining licenses. 02.10.2024, Sputnik Africa
2024-10-02T15:39+0200
2024-10-02T15:39+0200
2024-10-02T16:00+0200
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Uganda has established a state-owned mining company to manage the government's stake in all mining operations, the country's Minister for Energy and Mineral Development Ruth Nankabirwa told a mining conference in the capital city, Kampala.The move is aimed at increasing the country's share of the value from its mineral wealth, she added.The creation of the new company follows the adoption of the Mining and Minerals Act of 2022, which allows the government to take a 15% free-carry stake in all mining projects.Opening of the conference, Deputy Speaker of Parliament Thomas Tayebwa emphasized the importance of transparency, sustainable mining practices, and value addition in the mining sector, stressing the need to empower artisanal miners and ensure environmental protection while focusing on job creation and economic growth.The government is also encouraging domestic processing of minerals rather than exporting raw materials. Recent initiatives include the launch of Uganda's first tin refining company and the licensing of rare earth and limestone mining projects.
https://en.sputniknews.africa/20240616/uganda-expected-to-return-to-stable-64-7-growth-potential-in-next-financial-year-minister-says-1067066194.html
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uganda, minerals, mining, east africa, development, economy, economic growth, law, lawmakers
uganda, minerals, mining, east africa, development, economy, economic growth, law, lawmakers
Uganda Forms First State-Owned Mining Company to Manage Stakes in Operations
15:39 02.10.2024 (Updated: 16:00 02.10.2024) Alla Shukanova
Writer / Editor
All mining activities in Uganda have so far been carried out by private companies following the obtaining of exploration and mining licenses.
Uganda has established a state-owned mining company to manage the government's stake in all mining operations, the country's Minister for Energy and Mineral Development Ruth Nankabirwa told a mining conference in the capital city, Kampala.
"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 said.
The move is aimed at increasing the country's share of the value from its mineral wealth, she added.
The creation of the new company follows the adoption of the Mining and Minerals Act of 2022, which allows the government to take a 15% free-carry stake in all mining projects.
Opening of the conference, Deputy Speaker of Parliament Thomas Tayebwa emphasized the importance of transparency, sustainable mining practices, and value addition in the mining sector, stressing the need to empower artisanal miners and ensure environmental protection while focusing on job creation and
economic growth.The government is also encouraging domestic processing of minerals rather than exporting raw materials.
Recent initiatives include the launch of Uganda's first tin refining company and the licensing of rare earth and limestone mining projects.
