Museveni Backs New Iron Ore Processing Plant in Ntungamo

President Yoweri Museveni has voiced strong support for a new iron ore processing facility located in the Ntungamo district of southwestern Uganda. The commitment was made during a meeting with executives from Terra Industrial Development Company (TIDC), the firm behind Uganda’s inaugural pig iron processing plant.

This state-of-the-art plant is capable of producing pig iron with a purity of 93 percent. Pig iron, a crucial high-carbon metal derived from smelted iron ore, is a fundamental component in the manufacturing of steel and cast iron.

President Museveni emphasized the government’s strategic focus on maximizing the value of domestic raw materials. This approach aims to curb the export of unprocessed minerals, thereby fostering job creation, industrial expansion, and increased national revenue.

The President assured TIDC investors that relevant government bodies would work to eliminate any obstacles, ensuring the smooth operation and growth of their venture. This initiative represents a significant step towards local processing of Uganda’s mineral wealth.

Uganda possesses substantial investment potential within its mineral sector, a key area identified in the nation’s economic growth strategy.

In addition to the iron ore project, President Museveni also commended TIDC’s involvement in the health manufacturing sector through its subsidiary, Sino-Africa Medical Devices, which produces WHO-prequalified mosquito nets.

Source: Uganda Investment Authority