The Ministry of Energy and Mineral Development has officially granted a mining licence to Euro Gold Refinery (U) SMC Limited, marking another milestone in Uganda’s push to formalise and add value to its mineral resources, particularly gold.
The announcement, made by Energy Minister Ruth Nankabirwa during a function in Abim District, affirms the government’s commitment to ensuring that more minerals are refined and processed locally before export. The licence allows Euro Gold Refinery to conduct regulated mining operations alongside its existing gold refining business.
Minister Nankabirwa said the development is part of Uganda’s broader mineral beneficiation strategy under Vision 2040, which seeks to position the country as a regional hub for responsible mineral exploitation. “We are moving away from exporting raw minerals. Uganda must now benefit from every ounce of gold that leaves its soil,” she said, urging investors to embrace ethical mining practices that respect the environment and local communities.
The refinery, which already operates in Kampala, is one of a handful of firms cleared by the Directorate of Geological Survey and Mines (DGSM) to operate within Uganda’s restructured mining framework. Its new licence will allow it to source raw materials from licensed artisanal miners and refine them to internationally accepted purity levels.
According to company officials, Euro Gold Refinery plans to set up regional collection points and work closely with small-scale miners to promote transparency and traceability in gold trading. The firm says the move will not only create jobs but also help Uganda tap into the growing market for responsibly sourced minerals.
Industry analysts have welcomed the government’s decision, noting that formal licensing of refiners is essential to curbing illegal gold exports and improving revenue collection. Uganda has in recent years become a key player in East Africa’s gold trade, though much of its output has been leaving the country in unrefined form.
The Energy Ministry has also hinted at stricter monitoring mechanisms for all mineral exporters to ensure compliance with the Mining and Minerals Act, 2022, which prioritises in-country value addition and community benefit-sharing.
For Euro Gold Refinery, the licence is both an opportunity and a responsibility. The company says it aims to refine Uganda’s gold to high purity, manufacture finished products such as jewellery and contribute to industrialisation through local beneficiation.
The move is seen as a significant step toward transforming Uganda’s mineral sector into a more transparent, value-driven industry — one that not only attracts investors but also uplifts communities that have long depended on small-scale mining for survival.