Investment opportunities in rare earth minerals in Uganda

Substantial quantities of rare earth minerals have been discovered in Uganda, particularly in the areas of Karamoja and Lamwo.

A new survey conducted by the Ministry of Energy and Mineral Development and released on September 9 shows substantial amounts of gold, rare earth minerals, and base metals.

The survey, conducted by Xcalibur, a Spanish firm, started in 2020. The survey report states that gold was found in multiple areas, while rare earth elements such as niobium and antimony were identified. Niobium and antimony are vital for high-technology industries.

Deposits of copper, cobalt, nickel, chrome, coltan, and other industrial minerals were also recorded. These minerals are essential for renewable energy technologies, modern manufacturing and have high global demand.

The Permanent Secretary in the Ministry of Energy and Mineral Development, Eng. Irene Bateebe, described the survey as “a milestone in Uganda’s pursuit of sustainable mineral exploitation”.

Bateebe said the data gathered would guide both government and private sector efforts in developing the country’s resources for the benefit of all Ugandans. She explained that under the new Mining and Minerals Act, the Uganda National Mining Company has been empowered to invest directly in mineral development, either independently or through production sharing agreements with private investors.

The Permanent Secretary said the discoveries also fit into the broader economic transformation agenda, which prioritises mineral development, agro-industrialisation, tourism, oil and gas, and science, technology, and innovation.

Bateebe said the ministry is laying the groundwork for value addition, adding that efforts are underway to extend industrial power to mining sites. She said the local governments and communities would be fully involved.

According to the ministry’s project manager, Isaiah Tumwikirize, the data generated has been digitized into national databases and is being treated as strategic national assets. He said investors interested in prospecting for minerals would be able to access the data at a fee.

“Data is capital, and for the first time, licensing will no longer be based on speculation, but on credible scientific evidence. Only serious investors will be able to engage in meaningful exploration and development”, said Tumwikirize. He said the survey data will also support underground water exploration.

Xcalibur’s project lead, Carlos Velando, said each type of mineral would require different approaches of exploration and development.

Minerals discovered

Gold

Copper

Cobalt

Nickel

Chrome

Coltan

Niobium

Antimony

Other industrial minerals

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