• Second chance

    Second chance

    The Ugandan government has announced plans to revive a dormant copper mine.

    As reported by Bloomberg, it is preparing to open bids to restart the idled Kilembe mines located near the DRC border.

    Proposals will see the government taking a stake under a production-sharing agreement.

    The move follows the collapse of an agreement with a Chinese firm contracted to restore the mines – the company had pledged to invest US$175 million after winning the concession in 2013. The operation has been under care and maintenance since 1982.

    1 October 2019
    Image: Kilembe Mines