Uganda moves to end the export of its raw natural resources, with President Yoweri Museveni commissioning the Wagagai gold mining and processing project in Busia District.
“Under my leadership, we will not export unprocessed minerals, as this undermines our economy.” The Uganda president affirmed in a statement on Saturday.
The event marks a significant step in the government’s long-standing policy of adding value to its minerals, a strategy aimed at maximizing national revenue and creating jobs
The Wagagai gold mining project, a joint effort with Chinese investors, is set to be a game-changer for Uganda’s economy. The facility boasts a refinery capable of producing gold with 99.9% purity, a level of refinement that will command a significantly higher price on the international market. This local processing is projected to generate over $100 million annually for the East African nation over the next 25 years.
Beyond the substantial financial gains, the project is a major boon for job creation. Once fully operational, the mine is expected to create more than 5,000 jobs, providing a much-needed economic stimulus to the Busia region and beyond.
The commissioning of the Wagagai mine sends a clear message to both local and international investors: a new era of mining has dawned in Uganda, one that prioritizes value addition and national benefit over the simple extraction and export of raw materials.
“By maximising our natural resources, gold, lithium, tea, iron, etc., we can create jobs and industrialize Uganda.” President Museveni emphasized.
