Uganda has discovered over 31 million metric tonnes of gold ore, estimated to contain 320,158 metric tonnes of refined gold, valued at over $12.8 trillion USD. It’s more than the total amount of gold ever mined in human history.
This discovery set to positioned Uganda as one of the world’s richest countries in gold reserves.
According to Uganda’s Ministry of Energy and Mineral Development, extensive surveys using aerial, geophysical, and geochemical techniques uncovered gold deposits primarily in Karamoja, in the northeastern region.
Here’s a breakdown of the gold discovered:
• 31 million tonnes of gold ore (not pure gold).
• Potentially yields over 320,000 tonnes of refined gold.
• Estimated value: $12.8 trillion USD at current market rates.
The U.S. Geological Survey estimates that just 244,000 tonnes of gold have ever been mined globally. Uganda alone has more refined gold than the rest of the world combined.
What This Could Mean for Uganda
If even a fraction of the gold is extractable, this could:
• Boost GDP and foreign reserves and place Uganda at the top of the gold reserves in the world.
• Uganda would become the biggest economy in Africa and be among the top ten economies in the world.
• Fund infrastructure, education, and healthcare.
• Create thousands of jobs in mining and related sectors.
The majority of these deposits are located in the northeastern Karamoja region, with additional reserves in eastern, central, and western Uganda.
