Karuhanga said recent moves by government demonstrate that it wants the minerals sector to perform. From the scrapping of exploration taxes to revamping the directorate of Geological Survey and Mines and introducing new regulations to streamline the sector, more investors are looking to an environment devoid of much uncertainty.
Karuhanga, for instance, confirmed that 1,000 international investors and enthusiasts are expected to attend the sixth annual mineral wealth conference at the Kampala Serena hotel.
“The biggest hurdle in the mining sector is lack of awareness of what the minerals can do,” said Karuhanga.
Meanwhile, the United Nations Development Program (UNDP) has partnered with the European Union to support Uganda’s mineral sector, mainly the low-value minerals, dimension stones, semi-precious stones and industrial minerals majorly focusing on the artisanal players.
“We are investing 13.1 million euros in Uganda’s mineral wealth for the next three years,” said UNDP’s Wilson Kwamya, adding that a baseline survey to map the sector with the intention of identifying and profiling the minerals is already underway and will be completed by December.
Industry players are hopeful that the new policy to certify minerals for export will stamp out smuggling while efforts to refine minerals such as the gold refinery will go a long way in strengthening the value chains.
