New National Mining Company Board Has Been Inaugurated ,To Manage Commercial Interests Of The Minerals Sector
By Zulfah Namatovu
The National Mining Company (NMC) has inaugurated its new Board of Directors today at the Petroleum House in Entebbe.
The new board, led by James Mukasa Ssebugenyi as the chairperson and James Byagaba deputy chairperson, comprises seasoned experts including John Fisher, Agnes Alaba, Francis Twinamatsiko, Dr. Kevin Aanyu, Dr. Alex Kwatampora Binego, and Wilfred Kokas.
These professionals bring a wealth of experience to the sector, aiming to expand mineral exports and increase Uganda’s stake in international mineral markets.
At the inauguration ,the Minister of State for Minerals, Phiona Nyamutoro, emphasized the need for value addition in Uganda’s mineral sector.
“This board arrives at a critical moment when the government is focused on adding value to our mineral resources, ensuring that more of the value chain stays within the country and creates jobs locally,” Nyamutoro explained.
Eng.Irene Batebe ,Permanent Secretary ,Ministry of Energy and Mineral Development
“Uganda stands to benefit economically and environmentally by adopting modern mining practices and reducing raw mineral exports,” she added .
Eng.Irene Batebe, Permanent Secretary of the Ministry of Energy and Mineral Development, welcomed the board, underscoring their role in promoting accountability and boosting the legal and regulatory framework.
“This board will ensure that our mineral resources contribute more significantly to Uganda’s economic growth,” Batebe remarked.
Minister of State for Minerals, Phiona Nyamutoro
She further highlighted the importance of responsible mineral sourcing and noted the government’s new policy directive of prohibiting the export of raw minerals as part of efforts to enhance value addition within Uganda.
This new leadership marks a crucial step forward in managing the commercial interests of Uganda’s mineral resources. With a dedicated focus on economic growth and partnership, the NMC seeks to drive national participation in mining, working alongside the private sector to maximize revenue and ensure that mineral exploitation aligns with Uganda’s broader development goals.
Dr. Patricia Litho , Head Communications and Corporate Affairs at the Ministry of Energy
The National Mining Company was established as a commercial vehicle to enable the government to actively participate in the mining sector, following the model of the Uganda National Oil Company (UNOC), which manages government stakes in the petroleum industry.
The new board’s mandate includes fostering a more structured and lucrative mineral market, strengthening the sector’s regulatory framework, and promoting transparency in operations.
The mining sector in Uganda faces various challenges, with low funding to the Mineral Development Programme identified as a key bottleneck.
Editor:msserwanga@gmail.com
- Government Launches Resettlement Action Plan Study (RAP) For Buyende Nuclear Power Project - November 21, 2024
- Avocado Export Milestone: Uganda Sends First Sea Shipment to Spain - November 21, 2024
- The Best Companies For Investment In East Africa - November 17, 2024