Posted on 06/14/2022 9:32:25 PM PDT by yesthatjallen
KAMPALA, June 8 (Reuters) - Uganda on Wednesday said recent exploration surveys have shown it has gold ore deposits of about 31 million tonnes and it wants to attract big investors to develop the sector hitherto dominated by small wildcat miners.
Over the last two years aerial exploration was done across the country followed by geophysical and geochemical surveys and analyses, Solomon Muyita, spokesperson for the Ministry of Energy and Mineral Development, told Reuters.
Muyita said an estimated 320,158 tonnes of refined gold could be extracted from the 31 million tonnes of ore.
Most of the deposits were discovered in Karamoja, a parched sprawling area in the country's northeastern corner on the border with Kenya. Large reserves were also found in eastern, central and western areas of the East African country.
Muyita said Wagagai, a Chinese company, had set up a mine in Busia in eastern Uganda and was expected to start production this year. Wagagai had invested $200 million, he said, and its mine will have a refining unit.
President Yoweri Museveni's government has been seeking to ramp up investment in mining to develop resources like copper, iron ore, gold, cobalt and phosphates.
SNIP
(Excerpt) Read more at nasdaq.com ...
Some say that the Northern Lights are the glare of the Arctic ice and snow;
And some that it’s electricity, and nobody seems to know.
But I’ll tell you now—and if I lie, may my lips be stricken dumb—
It’s a mine, a mine of the precious stuff that men call radium.
It’s a million dollars a pound, they say, and there’s tons and tons in sight.
You can see it gleam in a golden stream in the solitudes of night.
And it’s mine, all mine—and say! if you have a hundred plunks to spare,
I’ll let you have the chance of your life, I’ll sell you a quarter share.
You turn it down? Well, I’ll make it ten, seeing as you are my friend.
Nothing doing? Say! don’t be hard—have you got a dollar to lend?
Just a dollar to help me out, I know you’ll treat me white;
I’ll do as much for you some day... God bless you, sir; good-night.
LOL. As I recall, it was Clint Eastwood, Lee Marvin, Jean Seberg, Ray Walston. Harve Presnell: A way out here, they got a name, for rain and wind and fire.
That was the musical, “Paint Your Wagon”
The post was an excerpt from Robert Service’s “The Ballad of the Northern Lights.”
https://quod.lib.umich.edu/a/amverse/BAD9177.0001.001/1:5?rgn=div1;view=fulltext
He wrote a lot of entertaining ballads about the Alaskan gold rush.
Go north the rush is on
When it’s springtime in Alaska
That’s Johnny Horton, by the way. 😀
Substitute different agricultural products and that sounds very familiar.
The Chinese will be all over that.
You should have just told them “Silver and gold have I none…”.
“I ganda
U ganda
We ganda
They ganda
You go Uruguay and I’ll go Paraguay.
You go to Indonesia, I go to Out-door-nesia”
Well, after reading this article, I say:
You go your way and I’ll go MINE.
I those situations, existential dialog was delayed until all of your attackers ammo had been expended.
;-)
No significant change in the price of gold since this “news” came out so perhaps we can write this up as FAKE NEWS.
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