By Kiganda Ssonko
THE Government has earmarked over $17m for geo-data survey whose findings would be used to attract investments in the mining industry.
The commissioner of the department of Geological Mines and Survey, Joshua Tuhumwire, said “Government is committed to developing the mineral sector. In this regard, over $17m has been earmarked for the collection of geological information which would be availed to investors.”
Tuhumwire said the project would be funded by the World Bank, Nordic Development Bank, African Development Bank and the European Union.
He was opening a workshop on ‘How to Successfully Develop Industrial Minerals,’ organised by the Centre for Development Enterprise and the department of geological survey and mines at Nile Resort Hotel, Jinja on Monday.
Tuhumwire said the three-year survey which will begin in August was part of a $42m five-year mineral development programme.
He said Uganda was blessed with over 35 minerals including copper, iron ore, cobalt, gold, vermiculite, phosphates, limestone, carbonates, salt and more inventions might come up.
Uganda earns over $65m annually from 37 licensed mining and over 140 exploring companies.
Tuhumwire said earnings from minerals after five years could reach $120m.
He said Uganda had done two geo-data surveys in 1961 and 1980 but at low pace. The upcoming survey will cover 80% of the country.
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