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ADu ReVIeW

Uganda calls for Australian support

ganda is eager to attract investment into its mining sector and is
Uturning to Australia for help.
In the country’s first appearance at Africa Down Under, James
Francis Natukunda of the Ministry of Energy and Mineral Develop-
ment told delegates the East African country was open for busi-
ness.
“There was a new mining and minerals policy developed in 2018
and we want to transition from artisanal to small-scale and mid-
scale mining; that is why we are here,” Natukunda said.
The Ugandan Government’s stated policy goal is: “To develop
the mining industry through increased investment, value addition,
national participation and revenue generation to contribute signifi-
cantly to socio-economic transformation and poverty eradication.”
Natukunda said to achieve this goal, the Government recog-
nised the need to strengthen its legal and regulatory framework,
establish and promote the country’s mineral potential and enhance
the institutional capacity for governance of the sector.
The move appears to be working. There are now five ASX-listed
juniors exploring for a variety of minerals in Uganda, including nick-
el, tin, rare earths and lithium.
Natukunda said the Government would continue to work pro-
moting investment in the country. It recently completed a mapping
programme which had now covered 90% of the country and has
upgraded its licensing system to allow online applications and pro-
cessing of mineral rights.

West African lithium mine step closer

FORCE COMMODITIES LIMITED James Francis Natukunda

He said the mapping campaign had been combined with results
of a recent airborne geophysical survey to identify potential new
ASX : 4CE mineral targets.
“Uganda is richly endowed with mineral resources; the recently
conducted geological, geochemical and airborne geophysical sur-
veys revealed potential for more mineral resources; specifically,
18 new targets for gold, iron ore and platinum group of metals
(PGMs), REEs, nickel-chromium, copper, cobalt, uranium, tita-
nium, limestone, phosphate, vermiculite, diatomite and bentonite,”
Natukunda said. “The new mining and minerals policy for Uganda,
2018 and revised legislation will offer a conducive mineral invest-
ment climate in Uganda and the Government intends to develop
these resources in partnership with the private sector in a sustain-
able manner.”
Among the incentives in place to attract foreign direct investment
is the 1991 Investment Code which encourages private investment
by streamlining procedures and guaranteeing protection against
appropriation. Foreign companies can hold 100% of Ugandan
businesses and import duties are non-applicable to mining equip-
ment.
The country also has ambitions to build its downstream capa-
ALL SET TO SHINE IN 2019 bilities, Natukunda pointing to the African gold refinery at Entebbe
airport as an example of the type of value addition the Government
wishes to see.
“The Government requires that minerals mined in Uganda
TSHIMPALA PROJECT, MALAWI should be processed and refined in Uganda into semi-finished or
HIGH-GRADE LEAD AND SILVER finished products before they are exported,” he said. “Currently,
copper, cobalt, lithium, graphite and iron ores are not for export in
www.forcecommodities.com.au raw form; the rest can be exported as high grade concentrates.”
– Dominic Piper

Page 64 OCTOBeR 2019 aUSTRaLIa’S PaYDIRT