Saturday , September 25 2021
Home / News / Uganda

Uganda

Residents affected by mining activities to receive compensation

The government has promised to pay people of various villages in the Kapchorwa and Bulambuli districts who have been impacted by mining activity. The location is where the Kampala Cement Company mines pozzolana, a vital ingredient in cement production. Kaboryot and Kapchela in Kawowo Sub-county, Kapchorwa District, and Buwekanda Village …

Read More »

Will the new mining law help Uganda or it will dissuade investors from the country?

While an increase in commodity prices is good news for mining companies and investors, there is always the risk that favourable market conditions will lead to resource nationalism. For example, according to a recent Fitch Solutions report on nickel, an upward trend in the metal’s price raises the likelihood of …

Read More »

Uganda considering a cabinet-approved draft mining law allowing gov’t to buy stakes in private mining companies

As early as this week, Uganda’s Parliament could consider a cabinet-approved draft mining law allowing the government to buy stakes in private mining companies. According to reports, the draft mining law could impose harsh penalties for violations in the sector, including prison terms of up to seven years, citing a …

Read More »

Mayflower and Papillon agree to buy each other’s shares in a structured share purchase agreement

Mayflower Capital Investments and Papillon Holdings have signed a formal share purchase agreement for the Kilimapesa Gold Mine in Kenya. The completion of the Transaction is a critical component of the Company’s planned re-admission to the Official List via a Reverse Take Over (‘RTO’), as well as trading on the …

Read More »

Phase 3 exploration of Iconic Uganda project set to commence

Ionic Rare Earths, an ASX-listed company, has announced the commencement of the next phase of drilling at its Makuutu rare earths project in Uganda, which it owns 51 per cent of. Initial reconnaissance drilling will be carried out as part of the drilling program, to determine the potential for resource …

Read More »

Mineral exports worth Shs34.6 billion have not been declared

According to the Auditor General’s report, minerals worth Shs34.6 billion were illegally exported out of Uganda between June 2017 and June 2020, resulting in Uganda losing billions of shillings in royalties. Minerals worth Shs8.3 billion were not disclosed to the Department of Geological Survey and Mining, while minerals worth Shs26.3 …

Read More »

AFRICAN GOVTS SHOULD HARMONISE GOLD EXPORT TAXES TO CURB SMUGGLING,PROMOTE CONFLICT-FREE GOLD

The Investigation and Policy Group, The Sentry, has advised that the US and the EU must work with African governments to harmonize gold export taxes to reduce smuggling and promote conflict-free gold. Uganda, Rwanda, the Democratic Republic of Congo (DRC), the Central African Republic (CAR) and Cameroon are the countries …

Read More »

Uganda’s Makuutu rare earth project gets a significant boost

ASX-listed Ionic Rare Earths The company on Wednesday announced that it had received binding commitments for the placement of 300-million shares at an issue price of 4c each, representing a 7% discount to Ionic’s ten-day volume-weighted average share price. The company also said it will raise A$12-million in a share …

Read More »

Women Miners Urged to Take Lead in the Sector

The State Minister for Energy and Minerals Development, Sarah Achieng Opendi, has urged women to embrace mining and take strategic leadership roles in the sector. The minister’s powerful call is particularly an expression of solidarity with and morale booster to women miners who continue to bear the brunt of the …

Read More »