Uganda’s efforts to maximize its mineral wealth for national development have gained momentum with the official launch of Euro Gold Refinery (U) SMC Ltd, the country’s third licensed gold refinery.
The state-of-the-art facility, located in Kampala was commission in a high-profile event attended by the Minister of Energy and Mineral Development, Ruth Nankabirwa and state minister for Minerals, Phionah Nyamutoro.
“Today, with the Minister Nyamutoro, we officially opened Euro Gold Refinery (U) SMC Ltd in Kampala,” announced Minister Nankabirwa on X (formerly Twitter).
She added, “One of the only three licensed refineries in Uganda, this milestone strengthens our minerals sector through value addition, job creation, formalized trade and increases revenue.”
The facility is seen as a significant step in Uganda’s shift from exporting raw materials to refined products, in line with the country’s vision 2040 development blueprint. With a secured 79.8 square-kilometer gold mining concession in Yumbe district, the refinery is licensed to trade, refine and export gold.
Minister Nankabirwa emphasized the refinery’s importance in Uganda’s ambitious plan to grow the economy from a $50 billion GDP through industrialization and sustained resource management.
“As a country, we are ready for responsible mineral beneficiation,” she said.
She added, “Refineries like Euro Gold reaffirm our commitment to transparency, indu8strialization and attracting credible investors for sustainable growth in our mining industry.”
Her colleague, Nyamutoro echoed the message of inclusivity and empowerment.
“The ministry shall offer all the necessary support to see that more citizens are directly involved in mineral beneficiation, “she said.
The Euro Gold Refinery is also expected to benefit over 400,000 Ugandans employed in artisanal and small-scale mining, with a ripple effect on nearly two million people who depend on the sector indirectly. The facility promises a transparent and regulated platform for miners to trade their gold , providing a safer alternative to exploit and illicit networks that dominate the informal economy.
Additionally, the refinery is aligned with the Bank of Uganda Domestic Gold Purchase Programme aimed at boosting foreign reserves by allowing the central bank to buy refined gold locally.
During the launch, Bernard Feni, the refinery’s Director presented Nankabirwa with refined gold samples symbolizing appreciation for her ministry’s support and the refinery’s pledge to innovation and excellence.
As the country takes firmer control of its resources, the commissioning of Euro Gold Refinery marks a new chapter in value addition and economic transformation through responsible mineral development.
