Uganda says it has vast amounts of minerals and is now looking at China to finance the rapid development of the sector.

Peter Lokeris, Uganda’s minister of state in charge of the sector, told Xinhua on Tuesday that he is scheduled to travel to China where he will highlight the east African country’s potential.

He will be making a presentation at China Mining Congress and Expo 2017, scheduled for Sept. 23-25 in Tianjin.

The conference will be hosted by the Chinese Ministry of Land and Resources and bring together government and business experts in the mineral sector from across the globe.

We have made investment friendly,” Lokeris said. “Where we see weaknesses in our legal framework, we always amend in order to make sure we attract investment.”

Lokeris said there are already positive results from China.

A Chinese company, Guangzhou Dongsong Energy Group Ltd., is constructing a 620 million U.S. dollar fertilizer factory in the eastern Ugandan district of Tororo.

Once completed, the factory will create over 1,000 jobs and also earn the country millions of dollars, according to government figures.

“They have diversified… They are going to have about four plants (factories) within the same complex,” Lokeris said, referring to the Tororo fertilizer project.

Lokeris said that although Uganda’s minerals sector is strong, it needs to be fully developed in order to fast track the country’s development.

“There are a lot of opportunities in this country. It is the natural resources which should enrich this country since we have them in abundance,” he said.

According to Uganda Chamber of Mines and Petroleum (UCMP), a non-governmental organization, Uganda enjoys a wealth of mineral deposits including gold, vermiculite, copper, graphite, iron ore, tin, tantalite, tungsten, nickel, platinum, graphite, limestone, and phosphates among others.

Lokeris said Uganda and other African countries must seize the opportunity of the continent being the choice of investment on the international fora.

“All pointers are to Africa. People from the West, East are coming to Africa. This is the new-found land. It is a green field,” he said. Enditem

Source: Xinhua/


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