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Mineral Development

Uganda’s abundant mineral resources: gold, copper, iron ore, cobalt, lithium, phosphates, graphite, uranium, limestone, marble, and rare earth minerals provide a strong base for industrialization. Minerals are vital inputs for manufacturing cement, iron and steel, fertilizers, and for energy diversification and technology industries. The global market for critical minerals has surged to US$320 billion in 2022, projected to reach US$400 billion, with Africa expected to see a 65% increase by 2050, driven by decarbonization, electrification, and renewable energy demand. Uganda’s untapped reserves position the country to capture this momentum.

Targets and Economic Impact Uganda projects mineral revenues to rise from Shs180 billion in FY2023/24 to Shs750 billion by FY2029/30, with the extractives industry’s GDP share increasing from 1.9% in FY2023/24 to 7.9%. Investment in mineral value addition is expected to grow from Shs200billion to Shs1,850billion over the same period. Market studies and commercial operations have already been established for limestone, iron ore, and gold, laying the foundation for intensified mineral based industrialization. Exploiting these opportunities could generate an additional US$28–38 billion in economy wide output, reinforcing Uganda’s ambition to transition toward a resilient, innovation driven economy.

Policy priorities and reforms over the NDPIV period, emphasis will be placed on exploration and extraction of commercially viable minerals, reducing informality, and modernizing artisanal mining through registration, licensing, and technology adoption. Government will facilitate conglomerate formation around mineral reserves and attract private capital through public share offerings. Re organization of artisanal miners, coupled with improved equipment, skills, and technology, will enhance capacity utilization, value addition, product diversification, and export competitiveness. These reforms will position mineral development as a transformative driver of accelerated growth and structural transformation in Uganda between 2025 and 2030.