Uganda announces discovery of huge gold deposits

From clubofmozambique.com

Uganda has announced that it has struck a deposit of 31 million tonnes of gold ore, with extractable pure gold estimated to gross 320,000 tonnes. President Museveni broke news of the find in his State-of-the-Nation Address on Tuesday, June 7, but provided little detail, pointing in general that it would fetch the country more than $12 trillion. Technocrats in the Ministry of Energy and Mineral Development, Mr Museveni noted, had informed Cabinet that the country was positioned to get slightly under $700m in royalty payments, with the investors poised to cash in on the windfall. Citing six local gold refineries, among ... (full story)