Gov’t wants to establish a National Minerals Company amidst plans of merging agencies
Batebe made the remarks while appearing before Parliament's Public Accounts Committee where the Ministry had been summoned to respond to some of the queries raised in the December 2023 Auditor General's report.
Irene Batebe, Permanent Secretary, Ministry of Energy and Mineral Development, has revealed plans by government to establish a National Minerals Company that will oversee Uganda’s investment in the mineral sector.
Batebe made the remarks while appearing before Parliament’s Public Accounts Committee where the Ministry had been summoned to respond to some of the queries raised in the December 2023 Auditor General’s report.
“We do boost significant mineral deposits and we are working to see how these add value and as one of the few policy directives is value addition where we put a ban on export of unprocessed minerals in order to ensure value for money. We are working to put in place a National Mining Company this will be nearing what Uganda National Oil Company (UNOC) is doing,” Batebe said.
She noted that the National Mining Company will hold the stakes commercial interest in the mining sub-sector and it will invest on behalf of Government in the strategic minerals.
“Rare earth elements, cobalt and we are already preparing to ensure that we pilot its investment through Kilembe Mines, so we are working on that, we are already working on capitalization and we are working with Finance to make that happen as we work to fully operationalize that company,” added Batebe.
Batebe’s remarks come at a time when the government is preparing to rationalize some of its agencies.
The proposed Bills include the Rationalization of Government Agencies (Education Sector) (Amendments) Bill, 2024 and the Rationalization of Government Agencies (Internal Affairs Sector) (Amendments) Bill, 2024.
Also, to be tabled will be the Rationalization of Government Agencies (Natural Resources and Environment Sector) (Amendments) Bill, 2024 as well as the Rationalization of Government Agencies (Works and Transport Sector) (Amendments) Bill, 2024.
Nabbanja said this during the plenary sitting on Thursday, February 8, 2024, while tabling the business that the government intends to bring to Parliament.
The Bills come at a time when the government has been put on the spot by legislators over what they termed as piecemeal amendments to the Constitution in a bid to merge some government agencies.
