UGANDA is on the brink of a significant economic milestone as the Wagagai Gold Mine and Refinery is preparing to start production in March 2024. This large-scale gold mining and refining facility, developed by Wagagai Mining Limited and planned and designed by China’s Shandong Gold Design Institute, is set to bring numerous opportunities and benefits to the nation.
During a site visit to the facility, Wagagai Mining Limited’s General Manager, Tan Jiuchang, revealed the comprehensive plan for the mining value chain. The project aims to cover all aspects from mining and beneficiation to smelting, refining, logistics, and foreign trade sales.
‘Our target is to get this facility ready for full production by March next year,’ Jiuchang announced, with the commissioning event planned between March and April 2024.
The project has garnered significant attention, with a Cabinet sub-committee, including Uganda’s Minister of Energy, Ruth Nankabirwa Ssentamu, State Minister of Finance, Planning and Economic Development, Amos Lugoloobi, and State Minister of Defense, Jacob Oboth Oboth, among others, conducting the site visit.
The Wagagai Gold Mine and Refinery has attracted an investment of more than $200 million and is anticipated to process up to five tons of gold per day, graded at an impressive 99.99 percent purity. The mine itself spans an area of approximately 9.13km², boasting proven gold ore reserves of around 15 million tons, expected to exceed 30 million tons over the mine’s projected life of 30 years.
Jiuchang emphasised that the project will create more than 3,000 job opportunities for Ugandans, contributing to the nation’s employment landscape. Moreover, the facility is poised to bring in an annual foreign exchange of about $100 million, a significant boost to Uganda’s economy. Additionally, it is expected to contribute $10 million in taxes to the government, enhancing the country’s fiscal capabilities.
The gold mine project boasts an extensive network of underground tunnels, including an 800-metre shaft, enabling efficient transportation of gold ore from the mine to the surface for processing. The facility is well-equipped, featuring a modern laboratory, storage facilities, and machinery housing units to ensure streamlined operations.
As Uganda eagerly anticipates the commencement of production at the Wagagai Gold Mine and Refinery, the nation looks forward to the economic prosperity and opportunities it will bring, cementing Uganda’s position in the global gold mining industry.