Gold mining Uganda is now becoming very popular with a wide spread of mineral resources, often in places that have very limited diversity from an economic standpoint. Mining can be an option for people who don’t have a lot of options.
One such place is Uganda. Uganda is blessed with the gold deposits, whose availability has helped to sustain as well as change many lives for the better, although not always without conflict. Let’s look at Uganda’s gold mining sector (gold mining Uganda) in the account given below.
The mining industry of gold has been on the rise in Uganda over the years. The gold sales add up to 30% of Uganda’s export revenue. In 2016, $514 million dollars in gold were exported from Uganda, representing a 50x increase over the decade.
The country is endowed with various gold deposits in different locations. As a result, the country has numerous investment opportunities in gold mining.
When it comes to gold mining, much of the activities are highly concentrated in locations such as Kigezi, kampala, Karamoja, Mubende, Busia as well as Buhweju. In the recent past, the mining was undertaken on a small-scale basis in the region such as Buhweju basin.
In fairly recent history, a number of international mining companies have shown interest in this country, investing substantial capital in the mining sector. As a result, the country has recorded an increase in terms of productivity which is a good sign for the country’s mining industry in the near future.
Mining of gold in Uganda(gold mining Uganda) likely dates back thousands of years. Indigenous miners undertook gold mining on a very minimal scale especially along the river basins. Later intrusions of Spanish and Portuguese slave traders in the region brought additional interest to gold in the region.
Many regions in Uganda produce fine gold from the river gravels.
Anyone who studies the history of Uganda will know that the instability of the region due to a variety of factors slowed development in the region. This has been the case until fairly recently. For most of the 19th and 20th century Uganda was not particularly inviting from a business perspective. Investment from outside interests was limited.
In 1986 there was a change of things when President Yoweri Museveni came into power. His coming led to the political stability of the country.
As a result, various international mining companies begun to express interest in obtaining gold exploration licenses, in order to have access to gold prospecting in the country. This was good for large mining firms, although less positive for small-scale miners.
It is also important to note that Uganda has a number of places yet to be explored and commissioned for commercial gold mining, as most of them are still being mined using the traditional methods of mining.
So please for more information about gold mining Uganda just contact us today.