Uganda Aims to Formalize Artisanal Miners with Central Bank Gold Purchases
Uganda's government is betting on formalizing its 500,000 artisanal miners to unlock revenue and improve traceability. The country's central bank has launched a national gold purchasing program that aims to buy directly from miners and licensed cooperatives at competitive prices.
The goal is to keep more gold in official reserves while giving miners an incentive to operate within the law. This move addresses the growing demand for gold with clear, traceable origins from international buyers.
Through the TENT Grant Initiative, Uganda's Chamber of Energy and Minerals is working with GIZ Uganda and the Ministry of Energy and Mineral Development on a Shs800 million program to formalize at least 20 artisanal mining cooperatives by improving their access to markets, technical support, and finance.