Uganda Struck A Huge Deposit Of Pure Gold Worth Trillions

Uganda on Wednesday said recent exploration surveys have shown it has gold ore deposits of about 31 million tonnes and it wants to attract big investors to develop the sector hitherto dominated by small wildcat miners.

Muyita said Wagagai, a Chinese company, had set up a mine in Busia in eastern Uganda and was expected to start production this year. Wagagai had invested $200 million, he said, and it’s mine will have a refining unit.

Muyita said an estimated 320,158 tonnes of refined gold could be extracted from the 31 million tonnes of ore.