President Yoweri Kaguta Museveni on Monday commissioned a newly constructed state of the art African Gold Refinery (AGR) in Entebbe, Wakiso District.
“I highly commend the management of AGR limited for bringing the company to Uganda. Africa produces a lot of gold but has so far attracted less of the same industries. I am calling on Africans to wake up and utilize the untapped potential,” President Museveni said.
His Excellency urged government officials to get rid of wrong policies such as taxes on prospective investors if the mineral sector industry is to get a shot in the arm.
The African Gold Refinery (AGR) has made a capital investment of 20M US dollars, directly employing 75 Ugandans, with capacity of 300,000kg of pure refined gold and ton, in a week and month respectively. AGR is the first high – capacity gold refinery of its kind in Sub-Saharan Africa, with a primary focus on processing gold and silver. The refinery will majorly cater for the mining industry of East Africa.
Mr. Museveni concluded: “I welcome the gold investors in the country and I urge them to also attract more investors especially in the area of processing. I strongly advise government officials against frustrating these investors (manufacturers and processors), as they will be dealt with harshly.”