By:Chimpreports

The board members of the newly established Uganda National Mining Company have been inaugurated.

The nine-member board is headed by James Mukasa Ssebugenyi as chairperson, deputized by James Byagaba.

Other board members include Kevin Aanyu, Alaba Agnes, Francis Twinamatsiko, Kiwanuka Maria Nabasirye Kiwanda, Kwatampora Alex Binego Zentaro, Wilfred Kokas Aupal, and John Fisher Kanyemibwa.

These were approved by Cabinet on September 1, 2024, although the government did not immediately reveal their names.

The company was created by the government recently to manage Uganda’s commercial interests in the mining industry.

It will do so through strategic partnerships with the developers in the private sector.

The National Mining Company will also champion sustainability and national content in the mining sector.

According to the Minister of Energy and Mineral Development, Ruth Nankabirwa, the company is somewhat similar to the Uganda National Oil Company (UNOC), which oversees Uganda’s commercial interests in the oil and gas sector.

“I needed a company, and I have put in place a company with whom we are going to use and push for more tangible commitment,” said Nankabirwa recently.

The Permanent Secretary of the Ministry of Energy and Mineral Development, Eng. Irene Bateebe, urged the new board members to focus on advancing mineral exploration and value addition to fuel economic growth, industrialization, and job creation in Uganda.

Batebe highlighted that the board is responsible for expanding exploration and assessment of at least 58 key minerals and geothermal resources across Uganda while implementing cost-effective technologies throughout the supply chain.

Her remarks come at a time when the Uganda Chamber of Mines and Petroleum is sounding the urgent need for investment in exploration, resource mapping, and infrastructure to unlock Uganda’s mineral wealth.

The chamber says that Uganda’s untapped deposits of minerals such as gold, copper, cobalt, and rare earth elements present immense opportunities, especially with the rising global demand for critical minerals.

Speaking during the recently concluded 13th Annual Mineral Wealth Conference in Kampala, the Chairman Board of Trustees at the Uganda Chamber of Mines and Petroleum, Sir Richard Kaijuka, said that investment in exploration creates opportunity for countries like Uganda, with its wealth of natural resources.

“It means that Uganda can position itself as a key supplier in the growing global market for critical materials. You have been told in terms of how we are endowed as a country; it’s amazing. We are talking about the potential. We are talking about the opportunities that lie ahead. The potential has been identified; they are essential for a bunch of production, especially electric vehicles plus electronics. With lithium, we have potential in the west, and with nickel, exploration has been made; the potential along the West Nile border, all the way to Gulu, is great. But a lot of work has to be done,” Kaijuka said.

“What I am saying is this is very important for battery technologies, for electricity mobility, and for renewable energy systems. Nickel continues to be used in stainless steel. You’ve heard of rare earth elements; I happen to be the chair of Rwenzori rear metals. I want to confirm that we’ve done a great job in the last 15 years. We’ve definitely identified huge deposits over 600 million tons, but the big goal is, of course, to add more value so that we can add on processing and refining, as is Uganda’s dream,” he added.

As the world transitions from the use of fossil fuels to clean energy, the demand for essential materials such as copper, cobalt, lithium, nickel, and rare earth elements is surging. These mineral resources are not only crucial for renewable energy technologies and electric vehicles but also for strategic industries such as defense.