Africa is the World’s top producer of numerous mineral commodities and has the World’s greatest resources of many more, but most of Africa still lacks systematic geological mapping which could bring to light a much greater resource base.
Uganda has more than 27 mineral commodities in deposits with potential for commercial exploitation, including copper, cobalt, gold, iron ore, columbite tantalite, tin, titanium, tungsten, limestone/marble, phosphates, vermiculite, rare earth elements, kaolin, gypsum, salt, glass sand and dimension stones among others. The Mineral industry currently contributes less than 1% of Uganda’s GDP.
Since basic geoscientic information and ensuing exploration are the lifeline for the development of the mineral sector, Government of Uganda is committed to attracting private sector investments and developing appropriate strategies to promote sustainable development of the sector. In order to attract private investment, the Government needs to consolidate investment rules taking into consideration the long gestation periods for mining projects. Equally important is the irreversibility, non -renewable nature of minerals and how minerals can benet future generations while creating linkages with other sectors of the economy such as energy, infrastructure, and tourism among others. Recent discoveries in Uganda have provided strong evidence of signicant mineral deposits and a great potential for the sector to contribute much more to Uganda’s economy.