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Uganda Launches $250M Chinese-Backed Gold Refinery to Transform Mining Sector

Published: 08-18-2025, 11:32 am

Uganda has launched its first large-scale gold mine, the $250 million Chinese-owned Wagagai Gold Mining Project in Busia District, marking a significant shift in the country’s mining strategy.

The facility will process 5,000 tons of ore daily and produce approximately 1.2 metric tons of refined gold annually at 99.9% purity. President Museveni emphasized this represents a move away from exporting unprocessed minerals, which has historically denied Uganda significant revenue.

The project is expected to generate over $100 million annually for the next 21 years and create more than 3,000 direct jobs. Uganda earned $3.4 billion from gold exports in 2023 (37% of total export revenue), though most came from re-exports. The new revenues will fund infrastructure including power stations and a $3.16 billion railway project.

Original Source: Business Insider

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