Despite boasting a rich and diverse mineral resource base, Uganda has lagged behind its regional peers in harnessing this economic potential. However, a series of ambitious initiatives are now underway to transform the sector and unlock the country’s vast wealth.
The government’s National Development Plan IV (NDP IV) has prioritized the mining sector, focusing on implementing the Mining and Minerals Act, 2022. This legislation aims to create a more conducive environment for mining operations, promote local growth, and address the challenges hindering the sector’s development.
To attract investors and reduce costs, the government has introduced incentives such as tax holidays. Additionally, the establishment of a Uganda National Mining Company is expected to play a pivotal role in managing commercial and participating interests in mineral agreements.
The industry is also anticipating further formalization through new laws, including licensing artisanal and small-scale mining (ASM), scaling up the biometric registration system, and accelerating the construction of water facilities for industrial use.
As global demand for minerals continues to rise, these initiatives are expected to lower production costs, increase returns on investment, and expand the availability of locally manufactured mineral products such as cement, iron, and steel.
While the mining sector is gaining momentum, Uganda’s oil and gas sector remains a key focus. Significant investments have been made in recent years, with projects such as Tilenga, Kingfisher, EACOP, and the Uganda Refinery poised to transform the country’s energy landscape.
To ensure the sustainable development of petroleum resources, the Ministry of Energy and Mineral Development (MEMD) is finalizing its review of the National Oil and Gas Policy. This policy aims to contribute to poverty eradication and create lasting value for society.
As Uganda navigates its path to prosperity, balancing economic growth, social development, and environmental conservation remains a top priority. The successful implementation of these initiatives could unlock the country’s mineral potential, creating a more prosperous and sustainable future for its people.