By Eng. Irene Pauline Bateebe
[Slightly edited]
[View video: https://x.com/ugandainvest/status/1905659318990442718 ]
Greetings!
It is my pleasure and honour to speak to you on this very occasion marking the 1st Uganda-China Mining and Petroleum Investment Promotion in this beautiful City of Liaoning. I am indeed grateful and appreciate the invitation extended to us to showcase the investment opportunities in the Mining and Petroleum Sectors of Uganda;
We appreciate the profound contribution of the People’s Republic of China towards the economic development of Uganda. Chinese Companies have a notable footprint in the construction industry (Roads, Hydropower, etc). A number have major investments in Mining, Energy, and Petroleum Sectors, notably Wagagai Gold Project and China National Offshore Oil Corporation (CNOOC) Petroleum; Sinohydro and China International Water and Electrical Company in power development.
The Government of Uganda recognizes that the Extractive Sector (Mining and Petroleum) has great potential to spur national economic growth through employment and revenue generation for the country. This can only be achieved if we add value to our mineral and petroleum resources in the country.
The Extractives sector will play a key role in the Energy Transition from fossil fuels to renewable energy. The sector will provide critical minerals needed for the transition.
Uganda is in the final stages of implementing the National Development Plan III, which intends to achieve the National Development Goals and Sustainable Development Goals (SDGs). The 4th National Development Plan (NDPIV) (2025/2026) – (2029/2030) has prioritized Agriculture, Tourism, Minerals (including Petroleum), and Science, Technology, and Innovations (ATMS) Sectors to drive the economy in order to meet the set development goals. These will be supported by electricity for productivity
Uganda is blessed with a wealth of mineral and petroleum resources namely: copper, cobalt, nickel, gold, iron ore, tin, tantalite, tungsten, chromite, lead, REE, manganese, lithium, graphite, uranium, phosphate, vermiculite, limestone, marble, glass sand, kaolin, feldspars, bentonite, diatomite and gemstones and we also have rocks for tiles, slabs, blocks and aggregates; sand and clays as building materials; and finally, oil and gas;
These resources find application as raw materials for: fertilizers to improve agricultural productivity; ceramics and cement for the construction industry; batteries for clean energy and high technological gadgets; as well as for ornaments and jewels.
Uganda also has good potential for energy resources such as hydro power, biomass, geothermal, nuclear, solar, and wind. The current energy generation capacity of the country stands at 2051.60 MW, and the country has set a target of 52,000 MW by 2040 under the NDPIV. Therefore, there are great investment opportunities in electricity generation, transmission, and distribution in Uganda to supply the region;
The Ministry of Energy and Mineral Development has a mandate to establish, promote the development, strategically manage, and safeguard the rational and sustainable exploitation and utilization of energy and mineral resources for social and economic development.
The Energy and Mineral (including Petroleum) Sector of Uganda has the following strategic objectives:
- To meet the energy needs of Uganda’s population for social and economic development in an environmentally sustainable manner;
- To use the country’s oil and gas resources to contribute to early achievement of poverty eradication and create lasting value to society;
- To develop the mineral sector for it to contribute significantly to sustainable national and social growth.
In order to ensure sustainable development of these critical resources, the Government has ensured its extractives industry is built on the following pillars: –
- Having a robust legal and regulatory framework with strong institutions to ensure implementation of the set policy. The Mining and Minerals Policy for Uganda, 2018 and the Mining and Minerals Act, 2022, and the Oil & Gas Laws provide a firm foundation for private sector investment in the country.
- Value addition to mineral and petroleum products for industrialization.
- State participation for increased revenues and national content. The Uganda National Mining Company and the Uganda National Oil Company have been set up to manage the state’s equity and shares under Production Sharing Agreements for large-scale projects.
- A strong Environment, Social, Governance (ESG) strategy. Companies operating in the country are supported to ensure they meet the requirements for Environmental compliance. Community engagement is key to ensure buy-in but also participation in the mining and petroleum industry.
- Technical data to inform investment.
The country is now 100% covered by high-resolution airborne geophysical surveys. Geological mapping of the country at various scales has also been completed, while the regional geochemical survey is being carried out. The data acquired will trigger mineral, petroleum, and energy resources exploration and development.
The geological data is critical in supporting detailed geological surveys and exploration over potential targets by the private companies and the government.
The online Mining Cadastre and Registry System and the establishment of robust geoscience databases; organizing and management of Artisanal and Small-scale Mines (ASM); and capacity building to effectively manage the sectors are some of the government’s interventions in place.
There exist investment opportunities in mineral exploration, mining, mineral processing and refining, manufacturing, trade, equipment supply and maintenance, and mineral analysis laboratories. Details shall be provided in the presentations.
Uganda has only explored about 40% of its petroleum potential and is therefore preparing to open up new basins for petroleum exploration. This will be in the Hoima basin (Western), Lake Kyoga basin (Central), and Kadam – Moroto basin (Northeastern). Uganda has attractive fiscal terms for Petroleum Exploration, Development, and Production.
There are a number of incentives the government of Uganda presents to all investors at various levels as shall be presented in detail by our team member from the Uganda Investment Authority and Uganda Chamber of Energy, Mines and Petroleum.
The Government is aware that all the undertakings in mineral and petroleum development require its interventions in providing a conducive environment and requisite infrastructure such as affordable electricity for mineral processing; roads and railways to mining areas, smelting parks and markets, human capital, and ICT capability. I therefore wish to assure you of the Government’s commitment to ensuring that all required efforts will be put in place.
We pledge our commitment to support and facilitate the Chinese Investors who are interested in investing in the Mining and Petroleum Resources of Uganda.
I finally wish to express my gratitude to the Ministry of Foreign Affairs, Uganda (Embassy of China) for establishing this conference as a platform to promote investment in the mining and petroleum sectors of Uganda, and invite you to Uganda, and take advantage of the opportunities and cordial relationship between the two countries.
For God and My Country.
Eng. Irene Pauline Bateebe
PERMANENT SECRETARY
MARCH 2025