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“We Want value Addition to our Minerals” – President Tells Investors

Wednesday, 05th October 2016
President Yoweri Museni has said that Uganda is targeting value addition, exploration and job creation in the mineral sector. He described the exportation of raw minerals as another form of colonialism.
"For us, we want value addition because this export of raw minerals is real colonialism. Because that's what colonialism was all about," he said.
The President informed those interested in the sector that he wouldn’t want the kind of relationship where raw minerals are taken outside, processed out there and brought back at a very high cost.

The President was today speaking at the Minerals Wealth Conference held at Kampala Serena Hotel. He noted that mining is one of the sectors that help the economy to grow. He said the country is endowed with a variety of minerals spread throughout various parts and cited gold, iron ore, phosphates, limestone, cobalt, tin, salt and silk sand, among others. He extended a warm invitation to the private entrepreneurs to invest in the sector.

"If there are people interested in the mineral exploration and have financial and technical capacity and are able to commit to the time bound agreement, they are welcome,'' he said.

He noted that minerals do not come over unless one carries out the exploration the more reason why the government is taking up the task of exploring after the private sector failed and liberalization also has not shown tangible results.

He highlighted past bottlenecks such as poor roads, shortage of electricity and insecurity, among others, that limited the growth of the sector. He, however, said that the NRM government has solved most of the bottlenecks and expressed strong optimism that the sector will take off. The Chairman of the Uganda Chamber of Mines and Petroleum, Elly Karuhanga, commended government for its role in the development of the mineral sector. He said Uganda has a mineral potential that must be into tangible reality. ENDS