/ world today news/ In Uganda, with the help of aerial photography and other research methods, the richest gold reserves in world history were discovered, the volume of which is about 31 million tons of gold ore.
It is reported that about 320 thousand tons of gold can be extracted from this amount of ore material. The Chinese company Wagagai will mine the precious metal.
The discovered gold deposits are located in the northeast (Busia and Karamoja regions on the border with Kenya), as well as in central and western Uganda (Kasanda and Busheni regions, respectively).
According to Uganda’s Ministry of Energy and Mines representative, Solomon Muyita, Wagagai will begin mining and refining the yellow metal from impurities before the end of this year in Busia, producing 5 tonnes of gold bars daily.
Earlier, a Chinese company invested about $200 million in gold mining in Uganda. Wagagai’s expected revenue from this project could be approximately $20 trillion.
In early 2022, Uganda’s parliament passed a law on the mining industry, according to which a profile state-owned company will be established in the country.
According to the text of the law, every mining company in the country must sign a contract with a state-owned company that it acquires 15 percent of the company’s shares.
Translation: SM
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