Large-scale Gold Mine Project to Boost Uganda’s Export Revenues
The plant is expected to process 5,000 tons of ore per day and produce about 1.2 metric tons of refined gold per annum.
SEATTLE (Scrap Monster): The East African nation of Uganda launched its first large-scale gold mine, eyeing bigger export revenues. The $250 million Chinese-owned Wagagai Gold Mining Project is located in Busia District in eastern Uganda. The facility was officially commissioned Saturday.
The mine proposal includes equipment that can refine bullion to a purity of 99.9%. The nation's continuous attempts to grow its mining sector and become a significant gold producer in the area will be fueled by the mine's commissioning. Uganda will greatly increase its international export earnings thanks to the initiative.
It is anticipated that the factory will process 5,000 tons of ore every day and generate roughly 1.2 metric tons of refined gold annually. Power plants and the planned standard-gauge railway are among the strategic assets that will be financed in part by the money received from gold exports. Additionally, the nation might lessen its dependency on raw resource exports by improving mineral processing.
The commissioning, according to President Yoweri Museveni, is an important step toward indigenous mineral processing. In addition to increasing output, the project will contribute to employment creation. Wagagai is expected to provide more than 5,000 employment once it is fully functioning, he said. He also encouraged mining firms to concentrate on funding regional processing.
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