President of the republic of Uganda, H.E Yoweri Kaguta Museveni on Monday commissioned a newly constructed state of the art African Gold Refinery (AGR) in Entebbe, Wakiso District.
“I welcome the gold investors in the country and I urge them to also attract more investors especially (processing). I strongly advise government officials against frustrating these investors, as they will be dealt with harshly” Museveni Tweeted.
He commended the management of African Gold Refinery limited for bringing the company to Uganda, adding that 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, I also urge 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” Museveni said.
The African Gold Refinery 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.