Uganda Grants 21-Year License for Makuutu Rare Earth Project to Rwenzori Rare Metals – The Ankole Times

Uganda Grants 21-Year License for Makuutu Rare Earth Project to Rwenzori Rare Metals

Tuesday, January 23, 2024

Rwenzori Rare Metals Limited has been granted a 21-year mining license for the Makuutu rare earth project. This groundbreaking agreement, signed on December 28, 2023, is the first large-scale mining license issued under Uganda’s new Mining and Minerals Law of 2022, holding the potential to bring substantial economic benefits to both the company and the nation.

The official handover of the license took place with Energy and Minerals Development Minister Ruth Nankabirwa presenting the document to Rwenzori Rare Metals CEO Warren Tregurtha. Minister Nankabirwa hailed the agreement as a “first step in developing one of the world’s heavy rare earth element assets,” emphasizing the project’s potential to position Uganda as a significant player in this critical sector.

The Makuutu project is anticipated not only to generate significant revenue for the Ugandan government through royalties and taxes but also to offer promising opportunities for the local communities in the Busoga region, where the mine is situated.

- Advertisement -

Minister Nankabirwa underscored the importance of community support for the project, stating, “This project should be supported all through… the people of Busoga will receive royalties, and they will be able to change their lives.”

Table: Key Details of Makuutu Rare Earth Project

Date Event
December 28, 2023 21-year mining license for Makuutu rare earth project granted.
Minister Nankabirwa hands over the license to Rwenzori Rare Metals CEO.
Project seen as a significant step for Uganda in the rare earth sector.

Share This Article
The Ankole Times
We come to you. Want to send us a story or have an opinion to share? Send an email to [email protected]
I've got feedback!
Atuhaire has embraced technological advancements, ensuring that the publication remains at the cutting edge of digital journalism. Her strategic vision includes expanding The Ankole Times' online presence, engaging with new media formats, and fostering a dynamic newsroom culture. With Atuhaire's leadership, The Ankole Times continues to evolve, staying relevant in an ever-changing media landscape.
Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *