Uganda Targets Mining Investment to Fuel Ten-Fold Economic Growth

The government is banking on the Mining and Minerals (Amendment) Bill 2026 to overhaul the sector's reputation. By streamlining licensing procedures and bolstering investor protections, officials hope to remove long-standing barriers that have hindered exploration. This legislative push coincides with the upcoming 2026/27 oil and mineral licensing round, which will open new greenfield sites to foreign developers and technology partners.

At the heart of this strategy lies a shift toward critical minerals—cobalt, copper, graphite, and rare earth elements—essential for the global energy transition. Beyond these prospects, authorities are working to formalize the gold industry, where artisanal miners currently generate 90% of total output. With the recent launch of the Domestic Gold Purchase Programme and the commissioning of the Wagagai Gold Project, the state is prioritizing local value addition over raw extraction. These efforts are designed to sustain an annual economic growth rate of 8% through 2030, marking a transition from traditional mining toward a more industrialized, investor-friendly framework.