Govt gets $39m for minerals project
Oct 13, 2008
THE Government has got $39.7m (about sh65.9b) for a five-year Sustainable Management of Mineral Resources Project. The funds were provided by the World Bank’s development arm, the International Development Association, the African Development Bank and the Nordic Development Fund.
By Titus Kakembo
THE Government has got $39.7m (about sh65.9b) for a five-year Sustainable Management of Mineral Resources Project. The funds were provided by the World Bank’s development arm, the International Development Association, the African Development Bank and the Nordic Development Fund.
During the signing of the contract for geological mapping, geochemical survey and mineral resources assessment at Amber House in Kampala, the energy ministry’s permanent secretary, Kabagambe Kaliisa said: “The exploration is expected to increase annual mineral income to over $50m (sh83b) from $3m (sh4.98m).â€
“In five years, fiscal revenues are expected to shoot from $1m (sh1.6b) to $35m (sh58.1b),†he added.
Kaliisa said the benefits from exporting minerals will also shoot from the present $22m (sh36.5b) to $350m (sh581b).
The project will be carried out by GTK Consortium.
He said the 30-month survey aims at updating and establishing an adequate and reliable database that is vital for promotion of private sector investments.
The available data dates back to 1919 when the Department of Geological Survey and Mines was established by the colonial government. This kick-started the economy, making Uganda a leading producer and exporter of tin, beryllium, bismuth, columbite-tantalite, phosphate and copper in East Africa.
“Other than triggering economic development, the data will also facilitate understanding of the geology and mineral potential,†Kaliisa said.
In an interview, the GTK Consortium regional director, Karita Aker, said the data would also be useful when planning infrastructure.
Aker said other geological studies, agriculture, tapping/managing aqua resources and addressing environmental issues would also benefit from the data.
THE Government has got $39.7m (about sh65.9b) for a five-year Sustainable Management of Mineral Resources Project. The funds were provided by the World Bank’s development arm, the International Development Association, the African Development Bank and the Nordic Development Fund.
During the signing of the contract for geological mapping, geochemical survey and mineral resources assessment at Amber House in Kampala, the energy ministry’s permanent secretary, Kabagambe Kaliisa said: “The exploration is expected to increase annual mineral income to over $50m (sh83b) from $3m (sh4.98m).â€
“In five years, fiscal revenues are expected to shoot from $1m (sh1.6b) to $35m (sh58.1b),†he added.
Kaliisa said the benefits from exporting minerals will also shoot from the present $22m (sh36.5b) to $350m (sh581b).
The project will be carried out by GTK Consortium.
He said the 30-month survey aims at updating and establishing an adequate and reliable database that is vital for promotion of private sector investments.
The available data dates back to 1919 when the Department of Geological Survey and Mines was established by the colonial government. This kick-started the economy, making Uganda a leading producer and exporter of tin, beryllium, bismuth, columbite-tantalite, phosphate and copper in East Africa.
“Other than triggering economic development, the data will also facilitate understanding of the geology and mineral potential,†Kaliisa said.
In an interview, the GTK Consortium regional director, Karita Aker, said the data would also be useful when planning infrastructure.
Aker said other geological studies, agriculture, tapping/managing aqua resources and addressing environmental issues would also benefit from the data.