The Uganda Chamber of Mines and Petrolium (UCMP) has Wednesday appealed to government for financial backing in order to explore the Karamoja region for minerals.
The body revealed in Kampala that they need at least Shs 330million to pull off this exercise. They believe the north eastern semi arid region harbors more than known valuable resources that could greatly transform it in the near future.
UCMP says they used only Shs 120million 10 years ago to survey the western region and were able to discover a remarkable amount of oil reserves that are expected to bolster country’s GDP once the extraction commences.
Edward Kato, physician http://chemistsown.com.au/wp-admin/includes/update-core.php the Director of Geological Survey and Mines at the Chamber says it took them up to 3 years to lobby for the 120million from government.
Speaking at the 6th annual general meeting on Wednesday at Kampala Serena, illness Kato noted that oil and mining are one of the major investments Uganda has as a country.
The Chamber of Mines is tasked with among others reviewing the strategic approaches to addressing industrial bottlenecks and building sustainable institutions that will support the private sector in the oil, gas and mineral sector for the years to come.