Business 2 September 2026 Daily Monitor (Uganda)
Uganda pitches trillion-dollar mineral wealth to global investors
Uganda is actively seeking international investment to unlock its vast mineral resources, estimated to be worth between $4 trillion and $12 trillion, as it aims to boost the mining sector's contribution to the national economy. Source: https://www.monitor.co.ug/uganda/news/national/uganda-courts-investors-to-tap-trillion-dollar-mineral-wealth-5581668
Uganda is making a concerted effort to attract foreign investment to harness its significant mineral wealth, estimated to range from $4 trillion to $12 trillion. The country aims to increase the mining sector’s contribution to the Gross Domestic Product (GDP) and establish a strong position in the rapidly expanding market for critical minerals.
This investment drive was highlighted at the 24th Africa Down Under Conference in Perth, Australia, a key global forum for resource sector opportunities. Ugandan officials, including representatives from the Ministry of Energy and Mineral Development and the Uganda Chamber of Mines and Petroleum, presented the nation’s potential to a diverse audience of industry leaders, financiers, and policymakers.
The chamber’s CEO, Humphrey Asiimwe, emphasized Uganda’s rich deposits of gold, iron ore, graphite, rare earths, copper, and cobalt. He pointed to projects like Makuutu, a significant rare-earth prospect in eastern Uganda, as examples of tangible opportunities that can link Uganda to the Australian critical minerals industry.
Despite its considerable mineral potential, Uganda’s mining and quarrying sector currently contributes only about 2.2% to GDP. The government has set an ambitious target under its National Development Plan IV to raise this contribution to 7.9% by the 2029/30 financial year. To achieve this, Uganda is working to provide investors with a structured environment, offering comprehensive data on geological surveys, licensing, feasibility studies, and market assessments.
Uganda’s High Commissioner to Australia, Dorothy Hyuha, noted the importance of the conference as a platform for connecting Ugandan opportunities with global capital and expertise. She highlighted the strong bilateral relations with Australia as a facilitator for potential partnerships.
Furthermore, the discussions at the conference also touched upon a regional approach to mining investment. Officials suggested that African nations could benefit from presenting complementary opportunities as a bloc, enhancing their collective appeal to international investors by offering more complete value chains from exploration to market access.