Uganda plans to hold its third round of petroleum exploration licensing in the upcoming fiscal year starting in July, and has selected a company to redevelop a major copper mine in the west of the country, according to Energy and Mineral Development Minister Ruth Nankabirwa.
During a briefing, Nankabirwa confirmed that new areas for exploration have been opened, with the third licensing round for oil and gas exploration set for the 2025/2026 fiscal year (July-June).
Uganda first discovered crude oil in the Albertine Graben basin near the border with the Democratic Republic of Congo nearly two decades ago. However, production has faced delays and is now expected to begin later this year. In August, the government announced that geologists were conducting initial surveys for oil in two additional basins located in the north and northeast of the country.
The minister did not specify whether the new exploration areas would be in these two new regions or within the established Albertine Graben.
Additionally, Nankabirwa revealed that the ministry had selected a winner for a tender to revitalize the Kilembe copper mine, located near the Congo border. She added that final negotiations are underway and the process is nearly complete, with an announcement expected soon.
The Kilembe mine, situated at the base of the Rwenzori Mountains, is estimated to contain approximately 4 million tonnes of ore, with a copper content of 1.98% and cobalt at 0.17%. The mine has been dormant since the early 1970s when it was abandoned by Canadian firm Falconbridge due to declining copper prices and political instability.