Uganda puts value addition at heart of mineral wealth drive

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The push to add value to Uganda’s vast mineral resources dominated discussions as the 14th Mineral Wealth Conference opened at the Kampala Serena Hotel on Wednesday, September 24, 2025.

Government officials, investors and industry leaders stressed that mineral beneficiation and processing will be key to raising the sector’s contribution to the economy, boosting export earnings and creating jobs as Uganda targets a $500 billion GDP by 2040.

Held under the theme: Sustainable Mineral Development Through Collaboration, Innovation and Green Transition: Unlocking Potential for a Resilient Future, the two-day conference drew participants from Uganda and abroad, including India, Lebanon, Sierra Leone and the Philippines.

Government’s targets

Officiating at the opening, energy minister Ruth Nankabirwa said mining currently contributes just 1% to Uganda’s GDP, but the Government aims to grow this to 8–10% within five years and to 25% by 2040. She noted that the sector is one of four anchors under the Fourth National Development Plan (NDP IV), expected to drive industrialisation and expand the economy.

Ruth Nankabirwa, the Minister of Energy and Mineral Development interacting during the 14th annual Mineral Wealth Conference held on September 24, 2025 in Kampala. (Photos by Alfred Ochwo)

“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.

Energy ministry permanent secretary Irene Batebe highlighted that the sector generated $3.8 billion from gold exports last year, surpassing coffee’s $1.38 billion and is expected to contribute $25 billion annually as new investments mature. She pointed to recent foreign direct investment inflows such as the $300 million Wagagai gold mine project, and stressed government’s dual focus on supporting artisanal miners while expanding medium and large-scale operations.

Currently, 90% of Uganda’s mineral output comes from small-scale miners.

Industry voices call for beneficiation

Uganda Chamber of Energy and Mines chairperson Aggrey Ashaba underscored the need for value addition if the sector is to deliver sustainable benefits.

L-R: Jan Sadek, Head of EU Delegation in Uganda, Aggrey Ashaba, the chairman of the Uganda Chamber of Energy and Mines, Ruth Nankabirwa, Minister of Energy and Mineral Development and Phiona Nyamutoro, Minister of State for Minerals sharing moments during the 14 annual mineral wealth conference held on September 24, 2025, in Kampala. (Photos by Alfred Ochwo)

“While mining and minerals may be king, value addition and national content is King Kong,” he said, urging investors and policymakers to prioritise mineral processing, beneficiation, and community participation.

Abdoul Karim Camara, vice president of Canadian firm Fortuna Mining Corporation, told delegates that global demand for critical minerals driven by the energy transition, battery manufacturing, and digital technologies presents Uganda with a strategic opportunity. He cautioned, however, that Uganda must avoid the “resource curse” by ensuring minerals are refined and processed domestically to maximise returns.

“Economic diversification is key. Minerals should be a lever to boost other sectors of the economy, not a trap,” Camara said, pointing to lessons from West Africa and South Africa, where stronger refining and value-addition practices have yielded greater GDP contributions.

Unlocking potential

With abundant deposits of iron ore, gold, tin, and cobalt, Uganda is positioning itself as a player in the global green minerals economy. Sector stakeholders at the conference agreed that collaboration, innovation, and investment in local beneficiation will determine how far the country can move up the value chain and whether mining becomes a pillar of inclusive and resilient growth.