Uganda to set up State mining firm, take equity in licences

The Ugandan government has started to set up a national mining company that will aim to take equity stakes of up to 15% of all medium and large-scale mining operations in the country, the minister for energy and minerals said on Tuesday. Ugandan geologists say the country has large deposits of a range of minerals including gold, cobalt, copper, iron-ore, rare earths, vermiculite and phosphates. The country is also aiming to start pumping crude oil in 2025 from fields in its west.