President Yoweri Museveni on Wednesday have addressed a minerals wealth conference at the Kampala Serena Hotel.
“We did an airborne survey of 80% of the country and established some of the minerals we have as gold, copper, walfrum, limestone, copper combined with cobalt, tin, beliruim, iron ore, gypsum and phosphates.”
Exploration in the past was hampered by problems like insecurity and instability, he said.
“Now, however, we have infrastructure like good roads; we shall soon make 6,000 kilometers of tarmac.”
Museveni said the country has a surplus of electricity and building more power dams while developing bio gas and solar power.
As for the railway, he said government is working with Kenya to construct an electric railway (Standard Gauge Railway) from Mombasa to Kampala in 12 hours. It takes three days currently.
“If we have people who want to travel with us the journey of exploration, then you are most welcome.”
He added: “We stopped taxation before exploration viability. We can tie exploration and exploitation so that after exploration, the company will have the first chance to utilize the minerals.”
The president also called for value addition saying the country can’t take raw materials only to bring it back at a higher price.
“We must process it from here. Like copper, we can refine it up to 99%. Ultimately what we want is exploration, value addition and jobs.”