Investment policy in the sector

 

The Uganda investment policy in the mining sector was developed through an extensive consultation process involving a broad spectrum of stakeholders. These included operators, private mining companies, academicians, environmentalists, policy makers and development planners.

The policy is designed to overcome the main barriers in the mineral sector by introducing new fiscal and technical incentives to mitigate adverse social and environmental impacts. It also sets out to provide conditions conducive to attract new investment for exploration and mining development, with the private sector providing the necessary management, technical and financial resources required.

The Mineral Policy objectives are:

• To stimulate the mining sector development by promoting private sector participation.
• To ensure that mineral wealth supports national economic and social development.
• To regularize and improve artisan and small scale mining.
• To minimize and mitigate the adverse social and environmental impacts of mineral exploitation.
• To develop and strengthen local capacity for mineral development.
• To add value to mineral ores and increase mineral trade.

Under the policy frame-work, government plans to carry out geological, geo-chemical and geophysical surveys of the entire country at various scales; process, analyse and interpret the geoscientific data; archive, package and disseminate the data to potential users through print and electronic media. The policy also provides for the investor-friendly and competitive legal and fiscal frameworks with well-designed parameters for the sector.