It is also true that for years there have been reports of a kind of “gold rush” in the African country that has forced more than 70,000 people from their homes in search of a deposit that would give them resources to feed their families.
Shake the discovery of the news talk. Uganda claims to have found a gold reserve that could forever change its economy and global financial situation. The amount of the precious metal is so ridiculously large that, in addition to emotions, it arouses suspicion throughout the planet. Is it a true story or is it false? Has Uganda been hype or is it about to become the real thing Wakanda?
How much are we talking about? Well, we are talking about 31 million tons of gold in the ground.
According to official calculations by Uganda’s Ministry of Energy and Mining Development, those 31 million tons are in deposits, but once processed they will be used to obtain more than 320,000 tons of refined gold.
If true, this remarkable discovery in Uganda is worth $12.8 trillion.
This figure is 4 times the GDP of Great Britain and 2 times the GDP of Japan. It would make them the third richest country in the world. It’s an impressive amount: equal to the entire weight of the Empire State Building, but if they made it out of pure gold. As you can imagine, the millions of tons have aroused many suspicions and some say the Ugandan government has exaggerated.
When we talk about 31 million tons of gold or 320 thousand tons of refined gold, we have to say an impressive number. If this discovery in Uganda is real, it is a find greater than all the gold known in the world. It is greater than all the gold mined in human history.
The US Geological Survey estimates that only 244,000 tons of gold have been discovered in history.
The World Gold Council, one of the world’s authorities on this precious substance, has not commented directly on the discovery in Uganda. When asked about their opinion of the possible discovery of millions of tons, they indicated that there are no official statements about gold reserves or finding resources. “We do not expect these discoveries to contribute materially in the near future,” they noted.
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