Uganda is set to launch its third petroleum exploration licensing round in the upcoming fiscal year, starting in July 2025. This was announced by Energy and Mineral Development Minister Ruth Nankabirwa during a briefing on Thursday.
The move follows the discovery of oil in the Albertine Graben basin nearly two decades ago, with production expected to commence this year.
Minister Nankabirwa also revealed that the government has selected a winner for the tender to redevelop the Kilembe copper mine, located near the border with the Democratic Republic of Congo.
The Kilembe mine, with an estimated 4 million tonnes of ore, has been inactive for decades due to low copper prices and political instability.
The announcement of the winner for the Kilembe mine tender is imminent, according to the minister.
