Uganda mining sector Archives

Kilembe Mines, Woodcross Resources top list of mining companies defaulting on mineral rent at UGX 3.75 billion

Paul MurungiEnergy, Oil & Gas The Big StoryDecember 16, 2025December 16, 2025

Government has issued a default notice of dozens mining companies and licence holders after unpaid mineral rent arrears climbed to UGX 3.75 billion. Woodcross Mining Company Limited and Kilembe Mines Limited are listed as the largest defaulters, according to a public notice by the Ministry of Energy and Mineral Development. In the notice, the Ministry reminded mineral rights and licence holders that under the law, all licence holders have a legal obligation to pay annual mineral rent and royalties to government. The Ministry said the notice serves as the last and final demand, giving defaulters 14 days to clear outstanding…

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Bank of Uganda to Begin Buying Gold After Year-Long Wait

Paul MurungiBanking & Financial Services The Big StoryJuly 30, 2025July 30, 2025

Uganda’s central bank is set to commence buying gold almost a year after announcing its domestic gold purchase programme, marking a significant shift in the country’s approach to reserve management and mineral sector policy. “We will soon begin buying gold,” said Bank of Uganda Governor, Michael Atingi-Ego, during a brief interview with CEO East Africa on the sidelines of the Annual Bankers Conference held yesterday at the Kampala Serena Hotel Conference Centre. Although the Governor, who appeared pressed for time, did not delve into the specifics of how the gold buying process would be rolled out, his remark signal a…

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