By Karim Were
Uganda is strengthening its position in the global minerals value chain by expanding its domestic gold refining capacity, a move aimed at increasing value addition, boosting exports, and enhancing the country’s participation in international precious metals markets.
During a meeting with Mr. Carlos Cohen, proprietor of Feldstein Co. Ltd., President Yoweri Kaguta Museveni highlighted the progress Uganda has made in refining its gold locally to internationally accepted standards. Feldstein’s Kampala-based refinery produces gold with a purity level of 99.9 percent, enabling the country to export higher-value refined gold.
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The President noted that Uganda now has ten licensed gold refineries, reflecting continued investment in the country’s mineral processing sector. He also welcomed plans by Feldstein Co. Ltd. to establish an additional refinery in Morulem, Abim District, a development expected to further expand processing capacity and create economic opportunities in the region.
President Museveni also showcased a gold bar sourced from Ibanda District, underscoring Uganda’s growing mineral production and the importance of processing these resources within the country before export.
He further revealed that refined gold bars from Feldstein’s refineries now bear the Bank of Uganda logo, a step that reflects efforts to strengthen the credibility, traceability, and branding of Uganda’s refined gold in international markets.
The developments are part of the Government’s broader strategy to promote value addition, industrialisation, and increased export earnings from Uganda’s mineral resources.
