In a significant move to promote local value addition and economic growth, Minister of Energy and Mineral Development, Hon. Ruth Nankabirwa, has officially launched the Euro Gold Refinery in Uganda. The launch marks a crucial step towards achieving the country’s ambitious goal of multiplying its GDP tenfold, from $50 billion to $500 billion, by 2040.
The Euro Gold Refinery is expected to play a vital role in Uganda’s economic transformation journey, refining locally mined gold to international standards and promoting value addition. Minister Nankabirwa emphasized the importance of the refinery, stating, “This is more than just a refinery. It’s a catalyst for industrialization, job creation, and national prosperity.”
The Minister also highlighted the government’s commitment to developing the mining sector and promoting local value addition. “We cannot reach our $500 billion target without bold ventures like this,” she said, adding that the refinery would contribute significantly to the country’s economic growth.
The launch of Euro Gold Refinery is seen as a major milestone in Uganda’s drive to export finished products rather than raw materials, aligning with the country’s Vision 2040 blueprint. Minister Nankabirwa emphasized the importance of upholding environmental and regulatory standards in the mining industry, ensuring that the sector contributes to the country’s economic growth while minimizing its environmental impact.
As Uganda embarks on this new journey in its mining sector, the launch of Euro Gold Refinery is a testament to the country’s potential for growth and development. With the refinery in place, Uganda is poised to increase its earnings from gold exports, create employment opportunities, and attract more investment in the mining sector.
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