Uganda has inaugurated its first large-scale gold mine, a $250 million Chinese-owned project in Busia district, aiming to boost the country's role as a major gold producer and exporter. The Wagagai Gold Mining Project, spanning nine square kilometres and operated by Wagagai Mining (U) Limited, is set to process 5,000 tons of ore daily and produce around 1.2 metric tons of refined gold annually. This marks a sharp increase compared to Uganda's 2023 output of just 0.0042 tons, largely from artisanal miners. Gold exports brought Uganda $3.4 billion last year, about 37 per cent of total export revenue, though much of it came from re-exports. President Yoweri Museveni, who inaugurated the plant on Saturday, said value addition in minerals like gold, lithium and tin is essential to strengthening the sector. He added that gold export revenue would help fund infrastructure, including power projects and the $3.16 billion standard gauge railway under construction. Attribution: Reuters Subediting: M. S. Salama
