Gold exports from Uganda recorded an 89 per cent increase in the year ending 2016, a Bank of Uganda (BoU) report has shown.
Although Uganda is not a big miner of gold, experts said the re-exports saw the country register $340 million (Shs1.2 trillion) revenue up from $36 million (Shs129 billion) exported the previous year. This performance makes the commodity the country’s second largest export product after coffee.
Uganda’s mineral industry has enjoyed a spectacular surge in recent years.
Gold exports reached $340 million in 2016, according to official figures, up from $237,000 in 2014. New mining sites are opening across the country, creating jobs for thousands of people.
The 18-month investigation “Uganda Undermined” draws on interviews with miners, company executives, government officials, and industry experts to paint a stark picture of one of the best sources in the gold sector to countries like UAE.
Mining Exploration Licenses
The period after 1986 has been marked by a favorable business climate in Uganda and many mining companies have taken up licenses in the mining sector. Over the last ten years the sector has been growing positively with growth rates peaking 19.4% in FY 2006/07. Read more…
The period after 1986 has been marked by a favorable business climate in Uganda and many mining companies have taken up licenses in the mining sector. Over the last ten years the sector has been growing positively with growth rates peaking 19.4% in FY 2006/07. In FY 2009/2010, the sector grew by 12.8%. In terms of licenses taken, in 1999 there were 66 licenses… Read more…
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