Uganda signs maiden production sharing deal to revive copper mine
Uganda has signed its first mining production sharing agreement (PSA) to redevelop a mothballed copper and cobalt mine in the country's west, near its border with Democratic Republic of Congo, it said on Monday. The Kilembe mine, which sits on the foothills of the ice-capped Rwenzori mountains, is estimated by government geologists to contain about 4 million metric tons of ore that is 1.98% copper and 0.17% cobalt, both of which are needed for the energy transition away from fossil fuels.
Uganda has signed its first mining production sharing agreement (PSA) to redevelop a mothballed copper and cobalt mine in the country's west, near its border with Democratic Republic of Congo, it said on Monday. The Kilembe mine, which sits on the foothills of the ice-capped Rwenzori mountains, is estimated by government geologists to contain about 4 million metric tons of ore that is 1.98% copper and 0.17% cobalt, both of which are needed for the energy transition away from fossil fuels.
