Mineral project gets $5m more
Dec 11, 2008
A TOTAL of $5m (sh9.9b) has been added to the $42m (sh83.1b) availed for the Sustainable Management of Mineral Resources programme.
By Kiganda Ssonko
A TOTAL of $5m (sh9.9b) has been added to the $42m (sh83.1b) availed for the Sustainable Management of Mineral Resources programme.
The World Bank, the Nordic Development Fund, African Development Bank and the Government are funding the programme.
The programme aims at promoting, managing and safeguarding sustainable use of mineral resources for economic and social development by attracting investments.
The programme, which was launched in 2003, was also extended to 2011 to enable proper implementation. It was supposed to end in 2009.
The Department of Geological Survey and Mines consultant on community development and small scale mining, Jennifer Hinton, said the extension was due to unforeseen rise in costs of production, reduced mineral prices and the global economic crisis.
“The programme was extended to 2011 in order accomplish the many activities like the airborne geo-physical surveys. Most mineral prices went down and the costs of production of some minerals went up globally,†Jennifer said during a workshop at the Ankrah Foundation Hotel in Mukono on Wednesday.
The mineral development state minister, Kamanda Bataringaya, said the Government was almost finishing a two-year airborne geophysical survey by flying over Acholi region (Gulu, Kitgum and Pader), which had been delayed due to the insecurity in the place.
“We hope Uganda’s full mining potential is to be known by early next year. Data from the two blocks out of the nine blocks that the country was divided into was released and is being analysed by investors. About five have already been licensed for exploration,†Bataringaya said.
He said full data about Uganda’s minerals would be available in the first quarter of 2009, adding that data from all the nine blocks would be interpreted for follow up.
He said Karamoja would also be flown by the survey planes once the disarmament exercise is concluded.
Fugro Airborne Surveys, a South African company, has carried out the $7.5m survey exercise which is part of the $42m programme.
A TOTAL of $5m (sh9.9b) has been added to the $42m (sh83.1b) availed for the Sustainable Management of Mineral Resources programme.
The World Bank, the Nordic Development Fund, African Development Bank and the Government are funding the programme.
The programme aims at promoting, managing and safeguarding sustainable use of mineral resources for economic and social development by attracting investments.
The programme, which was launched in 2003, was also extended to 2011 to enable proper implementation. It was supposed to end in 2009.
The Department of Geological Survey and Mines consultant on community development and small scale mining, Jennifer Hinton, said the extension was due to unforeseen rise in costs of production, reduced mineral prices and the global economic crisis.
“The programme was extended to 2011 in order accomplish the many activities like the airborne geo-physical surveys. Most mineral prices went down and the costs of production of some minerals went up globally,†Jennifer said during a workshop at the Ankrah Foundation Hotel in Mukono on Wednesday.
The mineral development state minister, Kamanda Bataringaya, said the Government was almost finishing a two-year airborne geophysical survey by flying over Acholi region (Gulu, Kitgum and Pader), which had been delayed due to the insecurity in the place.
“We hope Uganda’s full mining potential is to be known by early next year. Data from the two blocks out of the nine blocks that the country was divided into was released and is being analysed by investors. About five have already been licensed for exploration,†Bataringaya said.
He said full data about Uganda’s minerals would be available in the first quarter of 2009, adding that data from all the nine blocks would be interpreted for follow up.
He said Karamoja would also be flown by the survey planes once the disarmament exercise is concluded.
Fugro Airborne Surveys, a South African company, has carried out the $7.5m survey exercise which is part of the $42m programme.