Uganda will launch its third petroleum licensing round in July, according to Ruth Nankabirwa, Uganda's Minister of Energy. New oil and gas licenses will be available in the 2025-2026 fiscal year.
The location for the upcoming licensing round has not been confirmed yet.
Moreover, a tender winner has been chosen to revamp the Kilembe copper mine, and negotiations are nearing completion.
The Kilembe mine, located near the Rwenzori mountains, is estimated to hold 4 million tonnes of ore with 1.98% copper and 0.17% cobalt. It has been closed since the 1970s and was abandoned by Canadian company Falconbridge due to low prices and political instability.