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🇺🇬 Uganda is advancing its oil exploration and plans to reopen a copper mine, the country's minister states
Uganda will launch its third petroleum licensing round in July, according to Ruth Nankabirwa, Uganda's Minister of Energy. New oil and gas licenses will be available in the 2025-2026 fiscal year.
The location for the upcoming licensing round has not been confirmed yet.
Moreover, a tender winner has been chosen to revamp the Kilembe copper mine, and negotiations are nearing completion.
The Kilembe mine, located near the Rwenzori mountains, is estimated to hold 4 million tonnes of ore with 1.98% copper and 0.17% cobalt. It has been closed since the 1970s and was abandoned by Canadian company Falconbridge due to low prices and political instability.
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Uganda will launch its third petroleum licensing round in July, according to Ruth Nankabirwa, Uganda's Minister of Energy. New oil and gas licenses will be available in the 2025-2026 fiscal year.
The location for the upcoming licensing round has not been confirmed yet.
Moreover, a tender winner has been chosen to revamp the Kilembe copper mine, and negotiations are nearing completion.
The Kilembe mine, located near the Rwenzori mountains, is estimated to hold 4 million tonnes of ore with 1.98% copper and 0.17% cobalt. It has been closed since the 1970s and was abandoned by Canadian company Falconbridge due to low prices and political instability.
Subscribe to @sputnik_africa
🔸 Sputnik Africa 🔸