Uganda has announced the discovery of around 31 million tonnes of gold ore following extensive exploration across the country.
The government is now aiming to draw large-scale investors into a mining sector traditionally led by small, informal operations.
The exploration, carried out over the past two years, included aerial surveys along with geophysical and geochemical analyses. According to Solomon Muyita, spokesperson for the Ministry of Energy and Mineral Development, the estimated refined gold extractable from these deposits could reach over 320,000 tonnes.
The most significant findings were in Karamoja, a dry and remote region in northeastern Uganda bordering Kenya. Additional deposits were also identified in the eastern, central, and western regions, indicating gold reserves are widely spread across the country.
A Chinese firm, Wagagai, has already begun establishing a gold mining operation in Busia, located in the eastern part of the country. With an investment of $200 million, the company plans to begin production later this year and will include its own refining unit.
The Ugandan government, under President Yoweri Museveni, has been encouraging greater investment in mining to unlock the country’s untapped wealth in minerals such as copper, iron ore, cobalt, and phosphates, in addition to gold.
To support this strategy, Uganda’s parliament recently passed a new mining law. Once signed by the president, it will enable the creation of a state-owned mining company. Under the new law, the government will automatically acquire a 15 percent stake in every mining project. Investors will also be required to sign production-sharing agreements, replacing the previous system where mining licenses were issued on a first-come, first-served basis.
Officials hope these changes will create a more structured and investor-friendly mining environment while ensuring that Ugandans benefit more directly from the country’s mineral resources. The large gold discovery, coupled with a revised legal framework, is seen as a major step toward building a competitive and sustainable mining industry.