At least 400 delegates from far and wide are expected at the fourth Mineral Wealth Conference (MWC), come October 1st and 2nd, 2015 in Kampala.
Organized by the Uganda Chamber of Mines and Petroleum (UCMP) in collaboration with the ministry of energy and mineral development, ministry of foreign affairs, Africa Mining Network, Win Win 4 Africa Consultancy & African Legal Support Facility, the annual MWC is fast becoming East Africa’s flagship mining convention; playing a significant role in highlighting the huge untapped potential of Uganda’s and the region’s fledging mining industries.
Held under the theme “Minerals Value Addition – Road to Development”, the MWC2015 is organized in line with Uganda’s Vision 2040 and the National Development Plan 2 (NDP II) which is projected to transform the country into a middle income economy.
Uganda enjoys a wealth of minerals ranging from gold, copper, iron ore, vermiculite, tin, tantalite, tungsten, nickel, platinum and phosphate, just to mention a few.
However, fully exploiting these minerals remains a work in progress as extensive exploration has not been done.
To establish a large scale mine by world standards, at least $5m to $100m is needed in the exploration process – from discovery to proving feasibility.
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However, due to a fall in metal prices and a global economic downturn, exploration expenditure has plummeted by at least 30% worldwide with an additional 15% to 20% decline in exploration investment in Africa predicted in 2015 and beyond. An estimated 90% of junior exploration companies that existed in 2010 are no more; hence there exists a very strong competition for this highly risky capital globally.
Adding: “We are particularly encouraged by the government’s review of the laws and regulations governing mining that has made the legal regime truly user friendly for investors,” Richard Kaijuka, the UCMP Vice Chairman.
Kaijuka said it was important that the global mining community attended the MWC in large numbers since Uganda’s mining sector was now reawakened.
This year the UCMP, in partnership with African Legal Support Facility – an international institution hosted by the African Development Bank Group is conducting a 5-day training for government and private sector officials to strengthen their legal expertise and negotiating capacity in matters pertaining to the mining sector.
Dr. Zwelini Mkhize, the Treasurer General of the African National Congress (ANC) in South Africa, and also a former premier of KwaZulu-Natal, will deliver the Keynote Presentation at the MWC2015.
