Chinese investors Uganda's biggest mine as gold boom gains pace

• Uganda is attracting foreign investors as gold becomes its top export, earning over $5 billion recently.

• Wagagai Gold Mine in Busia is targeting annual production of 1.2 tonnes of refined gold.

• The project has created over 2,000 jobs and trained more than 700 Ugandan workers.

• Government is pushing value addition and local production to strengthen the mining sector.

A delegation of Chinese investors has toured the Wagagai Gold Mines in Busia District, as Uganda strengthens its position in the global gold trade.

The facility sits near the Uganda–Kenya border and is part of a growing push to expand large-scale mining in the country.

The visit, held on April 17, 2026, was led by Uganda’s Ambassador to China, Oliver Wonekha.

Officials at the site briefed the delegation on progress made since the project was launched, highlighting its role in boosting production and investment.

General Manager Lee said the mine is expected to produce about 1.2 tonnes of refined gold each year. He added that the project is steadily building capacity and is set to support Uganda’s ambition to increase domestic gold output.

The visit comes at a time when gold has become Uganda’s top export and a major source of foreign exchange.

Latest data shows the country earned over $5 billion (about Shs18 trillion) from gold exports between late 2024 and 2025, making it the leading export commodity.

Gold now accounts for more than three-quarters of Uganda’s export earnings, underlining its growing importance to the economy.

Officials said the Wagagai project is part of government efforts to promote value addition and reduce reliance on raw mineral exports. Uganda now operates several gold refineries, helping the country export higher-quality gold to international markets.

The mine has already created more than 2,000 jobs for Ugandans, while over 700 workers have received technical training. Authorities say this is helping to build skills and support local communities.

Despite the growth, experts note that much of Uganda’s gold trade is still driven by refining and re-exporting gold from neighbouring countries. However, projects like Wagagai are expected to increase local production and strengthen the country’s mining base.

The government continues to position the mining sector as a key driver of economic growth, with more investors expected to enter the industry in the coming years.