Uganda just became Wakanda

[KingDanz]

Recent exploration surveys in Uganda have led to the discovery of approximately 31 million tons of gold ore deposits, from which an estimated 320,158 tons of refined gold could potentially be extracted, with its value currently standing at $12.8 trillion.

The results were announced following two years of aerial exploration followed by geophysical and geochemical surveys and analyses.

Announced in June by Solomon Muyita, a spokesperson for Uganda’s Ministry of Energy and Mineral Development, the country is seeking to attract international gold mining companies and investors, having already licensed Chinese gold mining firm, Wagagai, to start production in the country’s eastern Busia District this year.

Announced in June by Solomon Muyita, a spokesperson for Uganda’s Ministry of Energy and Mineral Development, the country is seeking to attract international gold mining companies and investors, having already licensed Chinese gold mining firm, Wagagai, to start production in the country’s eastern Busia District this year.

The firm has invested $200 million towards the construction of a refining facility and is expected to refine approximately 5,000kg of gold per day in Busia by the end of 2022.

In a bid to overhaul its economy, Uganda’s President, H.E. Yoweri Museveni, has sought to ramp up investment in the country’s mining sector to develop its reserves of copper, iron ore, cobalt, phosphates and gold. Refining gold locally is expected to lead to the generation of 3,000 direct jobs while improving social service deliveries to local communities.

Earlier this year, Uganda’s Parliament enacted a new mining law, pending the President’s approval, that will lead to the creation of a state mining company through which investors will be required to sign a production-sharing agreement, allowing the company to acquire a 15% stake in mining operations within the country.

The majority of ore deposits were discovered in the northeastern region of Karamoja, with large reserves having also been found in the eastern, central and western areas of Uganda.

Uganda Discovers 31 Million Tons of Gold Ore

Recent exploration surveys have revealed 31 million tons of gold ore deposits, currently valued at $12.8 trillion in Uganda.

energycapitalpower.com

 

[ORDER_66]

Your late OP...

 

[King]

Announced in June by Solomon Muyita, a spokesperson for Uganda’s Ministry of Energy and Mineral Development, the country is seeking to attract international gold mining companies and investors, having already licensed Chinese gold mining firm, Wagagai, to start production in the country’s eastern Busia District this year.

A tale as old as time.

Idi Amin failed.

 

[Rozay Oro]

Smfh

 

[Th3Birdman]

I wish them nothing but the best

 

[Northern Son]

The Chinese or some Indian billionaire a$$hole will take the lion's share of profits. Black people will not get rich off this

 

[FrontoBama]

Energy in here is Day Day in Friday.

I bet you don't get it. I bet you don't get it. I hope you don't get it.

even 1 starred

 

[Jean toomer]

A tale as old as time.

Idi Amin failed.

Let the global fleecing and capitulation begin.

 

[Starman]

Non Ugandans are about to eat!

I'm sure mining is expensive and takes a certain amount of expertise, but if Ugandans haven't figured it out hopefully some other Africans have by now.

 

[IsThatBrothaMouzone?]

The Chinese or some Indian billionaire a$$hole will take the lion's share of profits. Black people will not get rich off this

The elite Black politicians will get paid but that money will not get to the "regluh" folks.

Africa is too reliant on resource extraction. The gold deposits are great but they should only allow local Black biz or even state run operators to control things. Keep the foreigners out. That short term Chinese $$$ seems nice but Beijing will make WAYYYYY more in the long run.

Why don't these African leaders think long term? Almost like the ones that WOULD think strategically get eliminated by the CIA, MI6 etc, so they either die or never get the outside "support" needed to rise to power.

 

[get these nets]

The elite Black politicians will get paid but that money will not get to the "regluh" folks.

Africa is too reliant on resource extraction. The gold deposits are great but they should only allow local Black biz or even state run operators to control things. Keep the foreigners out. That short term Chinese $$$ seems nice but Beijing will make WAYYYYY more in the long run.

Why don't these African leaders think long term? Almost like the ones that WOULD think strategically get eliminated by the CIA, MI6 etc, so they either die or never get the outside "support" needed to rise to power.

Yeah, the external problem is the West and meddling and coup plotting .

Internal problem is leadership trying to snatch as much money as possible while they are in office. I know very little about current Ugandan politics, but developing countries all face the same set of factors.

 

[CoryMack]

Yeah, the external problem is the West and meddling and coup plotting .

Internal problem is leadership trying to snatch as much money as possible while they are in office. I know very little about current Ugandan politics, but developing countries all face the same set of factors.

No different in developed countries. Look at the net worth of the politicians here before they get into office and compare that with their net worth after they’ve been in office awhile. And in western nations this is the case without the outside meddling and threats of coups.

 

[CoryMack]

As much gold has been mined in South Africa in the past 5 or 6 decades you would think that by now Black South Africans would’ve developed the experience and expertise to go into Uganda and make a deal to mine that gold. Better than having to go to the Chinese or the west and getting crumbs. Prof Clarke spoke on this in one of his lectures years ago.

 

[get these nets]

No different in developed countries. Look at the net worth of the politicians here before they get into office and compare that with their net worth after they’ve been in office awhile. And in western nations this is the case without the outside meddling and threats of coups.

Here is the difference. Politician here will skim off the top or get kickbacks for a public works/ private contractor project. It might get delayed, projected completion date pump faked, but eventually it's completed.

In developing country, the politicians might pocket all of the money for a proposed project. And it never gets completed. Money is gone and the infrastructure doesn't exist.

 

[UncleTomFord15]

The overwhelming vast majority of people who are going to eat off this are non black (non african) people.