Uganda Discovers Gold Deposits Worth 12 Trillion USD

Uganda has discovered 31 million metric tons of gold waiting to be mined in the country after several surveys were conducted.

According to a spokesperson from the Ministry of Energy and Mineral Development in Uganda, Solomon Muyita, these reports are aimed at attracting gold miners and investors in the crypto sector.

In a bid to boost the country’s economy, the Ugandan government has licensed Wagagai gold mining company, a Chinese firm to start producing gold products in Busia district.

The company embarked on the construction of its gold refinery valued at USD200m in phases in the district in 2016.

Muyita noted that the discovered gold could start being mined immediately, reports NASDAQ.

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