Business 3 September 2026 Daily Monitor (Uganda)
Uganda Seeks $4 Trillion in Mining Investments at Global Forum
Uganda is actively pursuing international investors to unlock its vast mineral wealth, estimated between $4 trillion and $12 trillion, aiming to boost the mining sector's economic contribution and capitalize on the critical minerals market. Source: https://www.monitor.co.ug/uganda/news/national/uganda-opens-doors-to-4-trillion-mining-investment-deals-5582914
Uganda has launched a significant drive to attract global investment in its burgeoning mining sector, positioning itself to benefit from the rapidly expanding critical minerals market. The nation is actively courting investors to tap into an estimated mineral wealth ranging from $4 trillion to $12 trillion, with the goal of increasing mining’s contribution to the national economy.
This investment push was highlighted at the 24th Africa Down Under Conference in Perth, Australia. Ugandan officials, including representatives from the Ministry of Energy and Mineral Development and the Uganda Chamber of Mines and Petroleum, engaged with international stakeholders to showcase the country’s resource potential. The conference provided a platform to discuss opportunities across a spectrum of minerals, including gold, iron ore, graphite, rare earths, copper, and cobalt.
The Makuutu rare-earth mineral project, located in eastern Uganda, was specifically cited as a prime example of the nation’s potential and its connection to the Australian mining industry. With the global critical minerals market projected to surpass $770 billion by 2040, driven by the green energy transition and demand for electric vehicle components, Uganda aims to secure a significant share.
Despite holding substantial mineral reserves, the mining and quarrying sector currently accounts for only about 2.2% of Uganda’s GDP. The government has set an ambitious target under its National Development Plan IV to raise this contribution to 7.9% by the 2029/30 fiscal year. To facilitate this growth, Uganda is working to provide investors with a structured environment, including access to geological data, clear licensing processes, and feasibility studies.
Uganda’s High Commissioner to Australia, Ms. Dorothy Hyuha, emphasized the importance of the Africa Down Under conference in connecting Ugandan opportunities with international capital and expertise. The country’s improving regulatory framework, developing infrastructure, and strategic location within East Africa further enhance its appeal for potential investors looking beyond simple extraction to processing and value chain development.