That’s more than all the gold ever discovered in the world. However not a word from the Western media. The extraordinary discovery of gold mines in Uganda for an estimated total of 31 million tons, of which 320,000 are said to be ready to be extracted at first, has not yet deserved a single article in the main media of the Western world. Neither the Washington Post, nor the New York Times, nor any European media or agency except Reuters and our web page has written a single line about what could be the purest gold find ever. important in the history of mankind.
If at the beginning of June in Uganda the information was already transmitted through Solomon Muyita, the Minister of Development of Raw Materials and Energy of the country located in East Africa, it had no echo in the major international media and news agencies, except in the aforementioned Reuters.
According to Muyita, aerial exploration was used, along with geophysical and geochemical surveys. Therefore, the largest deposits were discovered in a vast dry area in the northeast of the country, called Karamoja, on the fronteer with Kenya.
But gold was also found in the eastern, central and western regions. According to Muyita , the Chinese company Wagagai has set up a mine in eastern Uganda and is expected to start production this year. The company has invested $200 million to achieve this goal.
Uganda’s government under President Yoweri Museveni has recently focused its efforts on increasing investment in the mining sector. This company will hold a mandatory 15% Ugandan state stake in each mining operation in the country. Private investors will have to agree a production sharing agreement with the government.
The Ugandan government’s plan is to promote the extraction of 5,000 kg of gold per day. This would be an extremely high production as projected one year ahead, it translates to 1,825 tonnes, which corresponds to around 51% of the world’s recorded mining production in 2021. To measure the amount that has been discovered, it must take into account that at the end of in 2021, the global amount of gold extracted in the history of mankind is 205,000 tons compared to the possible 320,000 found only in this African country.
Gold mine in Uganda.
Uganda’s mining industry, documented as early as the 1920s, boomed in the 1950s with a record 30% of the country’s exports. It received further impetus when mining revenues increased by 48% between 1995 and 1997. However, the World Bank reported that the sector’s contribution to gross domestic product (GDP) increased from 6% during the 1970s to less than 0.5% in 2010. Uganda’s extractive industry activities have been identified by the Natural Resource Governance Institute as focused on “the extraction of cobalt, gold, copper, iron ore, tungsten, steel, tin and other industrial products such as cement, diamonds, salt and vermiculite”. Limestone is sold in local markets while gold,