Grapevine

Mining has potential to enhance Uganda’s GDP, says chamber of mines

The Uganda Chamber of Mines and Petroleum (UMCP) has projected that minerals and related economic activities’ contribution to gross domestic product will grow to 10 percent by 2040.

The growth will be more than thrice the current 2.2 percent, supported by several strategic interventions at both exploration and production levels.

The projections come at a time when government has recently banned the exportation of raw minerals, a move that seeks to improve earnings from the sector.

Speaking during the 13th Minerals Conference organised by the Uganda Chamber of Mines and Petroleum, Mr Aggrey Ashaba, the chambers’ chairman governing council, said they are working to unlock barriers that stakeholders in the mining sector continue to face.

“To be able to develop the mineral sector, all stakeholders involved including government, UN agencies, civil society organisations and the private sector must work together for the wellbeing of the sector,” he said, noting that for the industrial sector to grow, there needs to be availability of minerals, thus developing the sector is crucial in spurring industrial development. Uganda has in the last five years heightened mineral activities, putting in place required legislation, supporting the development of required human and increasing exploration and mapping activities.