Uganda Country Commercial Guide
Learn about the market conditions, opportunities, regulations, and business conditions in uganda, prepared by at U.S. Embassies worldwide by Commerce Department, State Department and other U.S. agencies’ professionals
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Extractives
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Extractives

Overview

Approximately 1.4 billion of Uganda’s 6.5 billion barrels of proven oil reserves, located mostly on its western border with the DRC, are estimated to be economically recoverable. French firm TotalEnergies, and CNOOC, hold licenses to develop these resources. In February 2022 TotalEnergies EP Uganda, CNOOC Uganda Limited, the Uganda National Oil Company, and the Tanzania Petroleum Development Corporation announced that they had reached the Final Investment Decision for the upstream oil production projects and the East African Crude Oil Pipeline. Uganda has seen significant investment in the oil sector in the last three years. The government expects oil sector development will require several billion dollars of infrastructure investment to build and support a refinery, two central processing facilities, and the 1,445 km pipeline — the world’s longest heated oil pipeline.  

The Petroleum Authority of Uganda requires that all firms seeking to participate in Uganda’s oil sector register with its National Supplier Database. 

In mining, the government completed an aeromagnetic survey for the entire country that highlights mineral occurrences in the country. In its 10-fold growth strategy to achieve GDP of $500 billion, mining and minerals are a top priority. The mining sector is plagued by low investment in exploration, unquantified recoverable minerals, and pockets of illegal artisanal mining in some gold mining areas. In the past, mining concessions were distributed on a first-come, first-serve basis; owners would then hoard licenses and not develop the concession. The 2022 mining law now stipulates competitive bidding, but there are many legacy licenses stuck under the old system. There is no large mining concessions involved in production. 

The largest mining concession in the country is the 21-year Makuutu Rare Earths Project, a 44 square kilometers concession with an estimated 532 million tons of rare earth minerals operated by the Australian firm Ionic Rare Earths Limited via its subsidiary Rwenzori Rare Metals. A graphite mine in northern Uganda operated by British firm Blencowe Resources has a 5,200-acre concession, with total graphite mining potential of 50,000 tons annually. In May 2025 the government awarded a concession for the re-development of an old copper mine – Kilembe Mines – to the Sarrai Group, a conglomerate involved in sugar manufacturing and cement production in East Africa. In November 2024 the government established the Uganda National Mining Company to hold the government’s commercial interests in mining concessions. Per the Mining and Minerals Act (2022) the Uganda National Mining Company will take a 15% interest in all mining concessions. The agency launched a five-year sustainable growth plan for in September 2025 to maximize the value derived from Uganda’s mineral resources for the benefit of the country.

Opportunities

International oil companies seek service subcontractors including engineers, housing construction, road infrastructure design and construction, environmental hazard controls, and vocational training services. In mining, licensed companies seek equity and debt financing to begin production. American companies are also viewed as preferred off-takers for some of the minerals to increase supply-chain resilience. Rare earth mining and Uganda’s waxy crude oil reserves will require advanced extraction and processing technology and equipment. 

Resources

 

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