Uganda has launched its first large-scale gold mine, a $250 million Chinese-backed project, marking a major step toward expanding its mining sector. The Wagagai Gold Mining Project, located in Busia district, will refine 5,000 tons of gold ore daily and produce 1.2 metric tons of the metal annually—an enormous leap from the country’s 0.004 tons in 2023. Gold already makes up 37% of Uganda’s export revenue, though it still trails far behind Africa’s top producer, Ghana. President Yoweri Museveni said the project is key to adding value to minerals like gold, lithium, and tin, and pledged to channel revenues into infrastructure projects, including a new $3.16 billion railway to boost trade.
Reuters
