Kampala, 2 September 2025: Uganda and the UK have reinforced their collaboration in the mineral sector through a joint investment webinar themed “Investing in Uganda’s Mineral Sector: Key Insights and Opportunities.”
Hon. Okaasai stated that Uganda is aiming for a tenfold economic expansion; from USD 50 billion in 2025 to USD 500 billion by 2040, driven by value addition in oil, gas, and critical minerals, including lithium, cobalt, and rare earth elements.
He underscored Uganda’s ban on unprocessed mineral exports, stressing the need for local refining and manufacturing to create jobs and spur industrialization.
British High Commissioner H.E. Lisa Chesney reaffirmed the UK’s commitment to long-term mineral development partnerships with Uganda, noting the role of critical minerals in the global energy transition and net zero ambitions. She announced the UK’s upcoming Critical Minerals Strategy, which will promote sustainable, transparent supply chains and equitable partnerships with resource-rich nations. Chesney also cited ongoing UK support through initiatives such as the Extractive Industries Transparency Initiative (EITI), the Natural Resource Governance Institute (NRGI), and the EMERGE programme. UK-listed Consolidated African Resources (Blencowe) participated in the discussions, sharing its experience in developing a mining project in Uganda.
