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Hima Cement investor, Sarrai Group is set to take over and re-develop Kilembe Mines based in Kasese District after signing a new agreement with the government. Hima Cement which is also based in Kasese District was acquired by Sarrai Group last year at a transaction value of USD 120 million. The investor signed a mineral production sharing agreement on March 3rd with Energy Minister Ruth Nankabirwa, and Finance Minister Matia Kasaija representing government as signatories. Sarrai Group Ltd and Nile Fibreboard Ltd emerged as the best bidders out of the 14 firms that expressed interest. According to Minister Nankabirwa, this…
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Blaze Minerals Limited, an Australian listed firm has turned to Uganda as it seeks fulfill the global demand for critical minerals, with a 60 percent acquisition in Gecko Minerals Uganda, the beneficial owner of the Ntungamo and Mityana mining projects, which are prospective for critical metals including beryllium, rubidium, lithium, tin and tantalite. The Ntungamo project has three exploration licenses and the Mityana project has one exploration license. The remaining 40% of Gecko Uganda shall be free carried by the Company until the delivery of a Bankable Feasibility Study, but may be purchased by the Company for US$750,000 at any…
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The latest Stanbic Bank Purchasing Managers’ Index (PMI) covering business activity for the month of June has shed light on Uganda’s private sector showing an expansion midway through the year, as business conditions improve further on the back of increased client numbers and favourable demand trends. This has also reportedly led to the latest rise in new orders and greater business activity in three major sectors including wholesale and retail, manufacturing, and construction. However, agriculture and services companies registered a drop in business activity. The Stanbic PMI findings show that the uptick in new orders in June encouraged firms to…
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