Posted on 07/03/2022 4:50:26 PM PDT by jimwatx
Uganda has announced that it has struck a deposit of 31 million tonnes of gold ore, with extractable pure gold estimated to gross 320,000 tonnes.President Museveni broke news of the find in his State-of-the-Nation Address yesterday, but provided little detail, pointing in general that it would fetch the country more than $12 trillion.Technocrats in the Ministry of Energy and Mineral Development, Mr Museveni noted, had informed Cabinet that the country was positioned to get slightly under $700m in royalty payments, with the investors poised to cash in on the windfall.Citing six local gold refineries, among them Africa Gold Refinery in Entebbe that the United States sanctioned in March over illicit source of its gold, the President declared that the time for Uganda to ship unprocessed exports is over.In details provided at our request, Ministry of Energy and Mineral Development spokesperson Solomon Muyita noted that the gold-endowed parts of Uganda include Alupe in Busia and Karamoja, both in eastern Uganda; Kameleng, Kisita, and Ngugo in Kassanda District in central region; and, Bushenyi’s Tiira area in western Uganda.The volume of the reserves is estimated at 31 million tonnes of gold ore, or net 320,158 tonnes of gold, valued at $12.8 trillion, according to a document prepared by the line ministry.If the computations are accurate, it would suggest the new gold find would topple the estimated windfall from oil still in the ground in the Albertine region.Mr Muyita said a Chinese-run firm, Wagagai, which picked its name from the highest peak of Mt Elgon, expects to mine and start refining at least 5,000 kilogrammes of gold a day in Busia by the close of this year...
(Excerpt) Read more at msn.com ...
I was just thinking the same.
They found Idi Amin’s private stash.
Quick - Call Hunter so the Big Guy gets his 10%.
Anyone remember Bre-X, aka the Bungle in the Jungle?
https://www.businessinsider.com/bre-x-6-billion-gold-fraud-indonesia-2012-7
Ugandan prince found his treasure. I’lll bet its a lot if you send them a check!
You will get 1000% on your return!
War is coming to Uganda
Yep. We’ll invade under “humanitarian reasons” of course.
Here come the Chinese.
Hillary Clinton is getting wetter than the day the knocked off Libya for gold and weapons (for her Muslim brotherhood friends). Sorry for the graphic language but it’s true. Has anyone figured out why we knocked of Libya to this day.
Iraq = millions dead
Libya = million dead
Egypt = 100,000 dead until Egypts army said no WAY.
Syria + Lebanon = 250,000+ dead
All for what? What did we get? 3 trillion+ in debt.
I would rather pay politicians millions not to spend trillions. I might say billions not to spend trillions and spill innocent Americans blood.
What do I know. I’m trying to defend killing alligators in ponds in Florida against city folk ideals of live and let live attitudes.
Huge and extremely valuable claims of mining discoveries are in the area of batteries which have energy density similar to gasoline.
Perhaps this is possible, but should be treated with skepticism.
“I’m betting Russia and China are looking to create a commodity back currency to undermine our increasingly worthless fiat dollar.”
Me too. One of the fallouts from the Neocon War in Ukraine is that Africa is now aligned with Russia - so we’re out of the running there.
The groundwork has been laid https://en.wikipedia.org/wiki/Uganda#Human_rights
I certainly do. I’d take these Ugandan tonnage and grade figures with a grain of salt.
Oh it’s coming alright, the Saudis have already begun accepting the yuan as payment for oil. The BRIC’s have just set up their own version of the IMF and funded it. With a competing currency, especially one backed by a commodity like gold or oil, will cause hyperinflation in the US and Europe. Europe and Japan are especially screwed because they don’t have the energy reserves we do. That’s what is scary about our situation, this is the stuff of which world wars are started.
Soon we will be totally out of south and central America also.
Since the Chicoms are involved, I suspect that either there’s not so much gold, and they are using this as an excuse to increase their footprint in East Africa, or they’re lying to the Ugandans and they will be skimming 10-20% of production off their reported values.
With warm hearts I offer my friendship, and my greetings, and I hope this letter meets you in good time. However, I am sincerely seeking your confidence in this transaction, which I propose with my free mind and as a person of integrity......
If I get a letter from Uganda saying a late uncle of mine died and I inherit not money but a gold mine.......
Still aint gonna buy it.
King Solomon’s Mines ???;)
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