Mineral wealth conference opens in Kampala

KAMPALA - The two-day mineral wealth conference has opened with discussions revolving around value addition.

The conference, which is in its 14th edition and underway at the Kampala Serena hotel, is being held under the theme: “Sustainable mineral development, through collaboration, innovation, and green transition: Unlocking potential for a resilient future”.

Opened by Ruth Nankabirwa, the Minister of Energy and Mineral Development, the conference has drawn different sector players, investors and participants from countries like India, Lebanon, Sierra Leone and Philippines.

Nankabirwa said the theme was deliberately chosen after realising the need for partnerships in development of the minerals sub-sector in the country.

“This engagement provides us with that unique opportunity to deepen our partnership and work together, to unlock the immense potential of Uganda’s natural resources,” Nankabirwa said.

Uganda is endowed with several mineral deposits like copper, nickel, gold, chromite, iron ores, tin, tantalite, tungsten, limestone, marble, graphite, gemstones and rare earth minerals.

Aggrey Ashaba, the chairman of the Uganda Chamber of Energy and Mines, underscored the need for value addition in the minerals and extractives sub-sector.

“While mining and minerals may be king, value addition and national content is King Kong. So for any of us who are interested in the sector, we need to make sure that we support processing, mineral beneficiation, national content, and the communities where mining is done so that we give them identity and ownership,” Ashaba said.

Mining and extractives, including oil and gas, are one of the four anchor sectors that the government is banking on in the implementation of the fourth National Development Plan (NDP IV) that seeks to grow Uganda’s gross domestic product to $500b by 2040.

The government hopes to achieve this feat by prioritising value addition to increase the mineral subsector’s contribution to GDP and creation of jobs.

Currently, the sector contributes just a paltry 1% to the country’s gross domestic product, but the government is targeting to grow this to 8-10% in the next 5 years, before growing it to at least 25% by 2040.

“I think this is achievable. With the support of all partners, investors, and policymakers. So I request each one of us here today to join hands and bring their innovation to make sure that these targets are achievable,” Ashaba said.