Overview:
A new $150m gold refinery in Uganda is set to create over 2,000 jobs and boost the country's economy by fully processing its valuable gold resources.
KAMPALA, UGANDA – President Yoweri Museveni has officially opened a new gold mining and refining facility in the country, hailing it as a key step towards ending the export of raw minerals.
The Wagagai gold mine, located in the Busia district, is equipped with a modern refinery capable of producing 99.99% pure gold. At a commissioning ceremony, Mr. Museveni praised the company, Wagagai Mining Uganda, for “listening to my message from the beginning and fully processing the gold.”
The president has long argued that exporting unprocessed minerals robs Uganda of revenue, jobs and the opportunity to develop local industries. He urged small-scale miners in the region to work with the new facility rather than selling their gold in its raw form.
The Wagagai mine, a $150m investment, is expected to produce gold for at least 20 years. Once at full capacity, it will process 5,000 tonnes of gold ore daily. The company, a Chinese-backed enterprise, says its total investment could reach $250m.
Chinese Ambassador to Uganda, Zhang Lizhong, said the project was a symbol of the friendship between the two nations and highlighted Uganda’s “conducive investment environment.”
Energy and Mineral Development Minister Ruth Nankabirwa said the project aligns with the government’s objective of promoting local value addition and creating jobs. The Wagagai general manager, Tan Jiuchang, said the project has already created over 2,000 jobs.