Uganda's mining sector is a key driver of the national economy, with a particular focus on the extraction of strategic minerals such as cobalt, gold and copper. At the same time, exports of gold, tin and tungsten continue to play a significant role in the country's revenue.
Ruth Nankabirwa, Uganda's Minister of Energy, has announced the launch of a third round of petroleum licensing scheduled for July 2025. This process falls within the 2025-2026 financial year and will offer new opportunities for the exploration and exploitation of oil and gas resources. Although the exact location of this operation has not yet been confirmed, this initiative reflects the country's ambition to make itself more attractive to energy investors.
A major renovation project concerns the Kilembe copper mine, located near the Rwenzori mountains. This mine, which contains around 4 million tonnes of ore with an estimated grade of 1.98% copper and 0.17% cobalt, has been closed since the 1970s. Its closure was due to low mineral prices and political instability at the time.
A successful bidder has been selected to undertake the refurbishment of the mine, and negotiations to implement the project are in the final stages. This project represents a major economic and social challenge, with the promise of boosting mineral production while stimulating employment and local infrastructure.
These initiatives reflect Uganda's commitment to diversifying its economy and fully exploiting its natural resource potential. By tackling the challenges of attractiveness and competitiveness in the mining and oil sectors, the government hopes to attract foreign investment, create jobs and generate revenue to finance its development.
With a strategy that combines the renovation of existing infrastructure with the opening up of new opportunities, Uganda could well establish itself as a key player in Africa's minerals and energy industry.