The interest of Chinese companies complicates the issue of the alleged gold discovery in Uganda

Various international media continue to discuss the issue of the discovery of the alleged reserves of 31 million tons of gold announced by the Ugandan government a few weeks ago. As it was recently known, many Chinese companies will be interested in participating in the extraction of gold, which will also be processed by the refineries of this country.

It all started when last June 8, and Tanzanian government Announced the results of the alleged exploration carried out in the territory Kamamojain the northwest of the country, which will allow the discovery of huge reserves equivalent to about 31 million tons of gold.

As we explain from this newspaper In an article published last weekExperts raise serious doubts in this regard, because low credibility From the government of Tanzania, and its efforts profit maximization From gold mining, above all, to Excessive amount of metal Presumably he found (equivalent to More than 115 times the total extracted in the world throughout history).

According to Reuters, the Ugandan government confirms that in the first phase it will reach 320 thousand tonsmaking this gold the largest deposits in history.

data World Gold Council It reveals that since the beginning of mining on Earth, the total extracted has been slightly more than 201 thousand tons A little 53000 tons in specified reserves.

If the data from Uganda are correct, it means that there has been a shift in these estimates of the kind that experts doubt their veracity.

Chinese interest

As if it weren’t doubtful enough, a new factor must be added to the equation: China’s involvement. As recently announced Ugandan Ministry of Raw Materials and Energy DevelopmentThe first mining company to establish new deposit extraction bases is the company wagajay uganda miningChinese branch Liaoning Hongda Groupwho also invested 200 million dollars in the construction of a refinery.

According to a recently passed law Ugandan Parliamentwill create National Mining Corporation That all mining companies interested in operating in the country must agree, in exchange for a 15% share in its production.

Apparently, the Chinese mining company has already agreed to pay an amount 20 million dollars annually In the concept of exploitation rates.

This information only confirms doubts about the correctness of the discovery: it is strange that the only company currently interested in the Ugandan project is A semi-unknown Chinese mining companyWhen there is importance Multinational companies in the gold sectorwhether from China or from other countries, operating in Africa, such as Canada Barrick GoldThe second largest mining company in the world in terms of production volume.

We will continue to report…

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