Uganda’s State Minister for Mineral Development Peter Lokeris has said that the government is in the final stages of developing new mining laws that will support private sector investment in the country’s mining sector.
The Minister was this morning assuring participants and international delegates who attended the 8th Annual Mineral Wealth Conference that is running under the theme ‘Creating an enabling environment for mining in Uganda’ at the Kampala Serena Hotel.
“As a government, we are committed to ensuring that the country becomes the number one investment center for the private sector to invest in when it comes to the mining sector,” said Lokeris.
Lokeris said the mining sector’s contribution to Uganda’s GDP is still very low at only 0.05% yet Uganda is endowed with various minerals whose demand is high on the international market.
He, however, advised investors to form joint venture partnerships with local Artisanal miners reasoning that this will help in building the capacity of the local artisanal miners.
Speaking at the same event the UNDP Country Representative Elsie Attafuah asked both the international and local miners to ensure that they use modern technology while mining for the good of the country’s environment.
The mineral wealth conference is jointly organized by Uganda’s Ministry of Energy and Mineral Development and the Uganda Chamber of Mines and Petroleum.
The Uganda Chamber of Mines and Petroleum Chairman Dr Elly Karuhanga said Uganda has more comparative advantages in the mining industry but the government need to invest in sectors that can lower the cost of doing business in the mining industry.
BY SAMUEL NABWIISO