Euro Gold Refinery launches $500M mining site in Uganda

Euro Gold Refinery has officially launched a new mining site in the Yumbe District of Uganda, a project valued at approximately $500 million. The launch was led by the Minister of State for Minerals Development, Phiona Nyamutoro, and attended by representatives from the Bank of Uganda and various district leaders.

The mining operation covers roughly 79 square kilometers across the West Nile region, with Yumbe serving as the initial site. The company aims to produce at least 20 kilograms of gold per week as operations expand. The project is designed to be mercury-free and has the capacity to crush 16,000 tonnes of material.

Minister Nyamutoro emphasized that the project aims to demonstrate the benefits of responsible and sustainable mining, noting its potential to stimulate infrastructure development, improve social services, and create approximately 2,000 jobs. She also issued a warning to operators against the employment of minors and urged compliance with the 2022 mining regulations. Euro Gold Refinery CEO Benard Feni stated that the company spent over two years conducting surveys and exploration before securing the site and plans to establish a processing plant to strengthen local operations.