President receives Indian mining group delegation

Sunday 4th May 2014

President Yoweri Museveni has received and held discussions with officials from the Uganda International Mining Company Ltd, a group from India that has expressed interest in investing in the mining sector in the country.

The delegation that called on the President at State House, Nakasero today was led by the company’s Managing Director, Mr.  Ashok Mustapure.

The President welcomed them to Uganda and said that the country is interested in the export of steel but not iron ore as the raw form of iron is very much needed for Ugandan manufacturing sector.

“Let us become partners. You should export steel but not iron ore,” he emphasized to the delegation.

The President encouraged the company officials to solicit for other partners in similar business and continue with the exploration process in the whole country.

Mr. Ashok Mustapure assured the President that his company has already secured what is required for them to start operations including the licence.

The Uganda International Mining Company Ltd was incorporated in the country in 2011 for the sole purpose of carrying out the business of exploration and mining of various natural resources.

It has already secured an exploration licence from the Government to explore mineral resources located in Kanungu district, South Western Uganda, where an estimated 55 million tons of high grade iron ore deposits exist with an iron content of over 65%.

The company is known in Indian for carrying out the manufacturing of cotton bales, aluminium products as well as mining of iron ore and manganese ore, among other activities.

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