Experts have warned that without effective regulation, Uganda may lose a significant amount of money to overseas entities in the mining sector.
Currently, they said only a few individuals are benefiting from the country's valuable resources and profits generated through mining.
These concerns were raised during a conference organized by Global Rights Alert and the civil society coalition on oil and gas, focusing on Uganda's mineral subsector.
The conference, themed "Shaping Minerals and Energy Agenda," aims to empower participants to harness the economic potential of these resources for the continent's future.
Key issues discussed include the need for local financing for mining projects, education and sensitization of citizens about opportunities in the sector, extractives revenue management, the legal and policy framework governing natural resources, the global climate crisis, the energy transition, and the civic space for extractive sector players.
Winfred Ngabiirwe, Executive Director of Global Rights Alert, stressed the importance of protecting citizens' rights and ensuring government and investors' accountability.
She highlighted the issue of illicit financial flows in the extractive sector and called for transparency and understanding regarding investor activities.
To address these challenges, Ngabiirwe called for a unified approach involving the Minister of Energy, the Revenue Authority, and other stakeholders to ensure transparent monitoring of production, exports, and imports.
She emphasised Africa's vast mineral reserves and the importance of open discussions and inclusive decision-making.
Ngabiirwe also emphasised the need for financial aid accessibility in the mining sector and urged decision-makers to engage more with sector stakeholders.
She acknowledged the historical impact of colonial frameworks on current practices and called for integrated policies governing mineral and energy wealth, referencing the Africa Mining Vision adopted by the African Union.
John Bosco Bukya, Chairperson of the Uganda Association of Artisanal and Small-Scale Miners (UGAASM), called for collaboration between the government and the mining sector, addressing issues like high licensing costs for small-scale miners and difficulties in accessing NEMA.
"Last year, before the regulations were issued, we attended a meeting like this as the Uganda Association of Artisanal Small-Scale Miners. We took the initiative to write a letter to the regulators, expressing our desire for a boardroom meeting to discuss and enhance the proposed regulations. It was disappointing when the regulations were introduced without our input,"he said .
Sign up for free AllAfrica Newsletters
Get the latest in African news delivered straight to your inbox
He expressed gratitude to the government for acknowledging UGAASM's involvement in shaping the law that will guide artisanal and small-scale miners in the country.
Eng. David Sebagala, an inspector of mines, highlighted the importance of public understanding of the mining sector and its potential for investment.
"When the public understands mining, we won't need to seek external funds. Some artisanal miners have billion-dollar projects, but lack of understanding in their communities limits their potential. People tend to invest in real estate and agriculture because they are more familiar with those sectors. However, if Ugandans understood the mining industry, we could utilize our own resources to develop these projects,"he said.
