President-Museveni-receives-a-sample-of-refined-gold-from-Wagagai-Gold-Mining-project-Wagagai-MD-Tan-Jiuchang-L-during-the-commissioning-of-the-facility-in-Busia-on-Saturday.
President Yoweri Museveni has launched the Wagagai Gold Mining Project in Busia, marking a significant milestone in Uganda’s economic development. The project, undertaken in partnership with Chinese investors, is expected to transform the country’s mining sector and create lasting infrastructure.
Museveni proposed the creation of a mineral wealth fund to channel Uganda’s gold and oil revenues into lasting infrastructure, such as railways, roads, power plants, health facilities, and sports stadiums. This fund will ensure that the country’s mineral resources benefit future generations long after they are depleted.
The Wagagai Gold Refinery, established in 2019, has set a new benchmark for Uganda’s mining sector. With its state-of-the-art technology, the refinery produces 99.99% pure gold bullions, unlocking greater value for the country. General Manager Tan Jiuchang said the refinery aligns with China’s Belt and Road Initiative, transforming a once-remote Busia area into a modern, environmentally sustainable gold industry hub. The project has created jobs, built infrastructure, and introduced advanced mining technology. Tan announced plans for further expansion, including a $50 million investment by 2027 and another $50 million by 2035. The refinery is projected to produce 1.2 tonnes of gold annually, generating $100 million in foreign exchange and creating up to 5,000 jobs across various sectors.
Energy and Mineral Development Minister Dr. Ruth Nankabirwa hailed the refinery as a cornerstone of Uganda’s Vision 2040. She emphasized the importance of gold in Uganda’s economy, noting its applications beyond jewelry, including electronics, medicine, aerospace, and as a reserve asset for central banks.
Ambassador Zhang Lizhong said the project strengthens China-Uganda economic ties, contributing $10 million annually in tax revenue and driving industrial growth and technical capacity. He highlighted the vast opportunities for Uganda in the Chinese market, citing the country’s 400-million-strong middle class and complete manufacturing system.
Museveni emphasized that Uganda’s mineral wealth should fund long-term development, creating a lasting legacy for future generations. The Wagagai Gold Project stands as a model for Uganda’s mineral future, promising economic growth, job creation, and a legacy of infrastructure for generations to come.
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