- According to experts, the global demand for rare earth minerals to develop green tech solutions, is projected to grow from $5.72b to $8.88b by 2025.
According to experts, the global demand for rare earth minerals to develop green tech solutions is projected to grow from $5.72b to $8.88b by 2025. Governments across the globe have set ambitious targets to cut emissions and increase renewable energy installations which have generated tremendous demand for rare earth. Uganda which has sizeable deposits of these minerals has made remarkable progress in attracting investments into the exploration of green energy minerals such as rare earth elements, graphite, copper, cobalt, lithium, and nickel.
So far, foreign investment into the mining as well as Energy sectors of Uganda is largely dominated by South Africa, China and Australia. With the growing global demand for green energy minerals, the Government of Uganda is aggressively courting US companies to invest in the sectors. The marketing campaign by the government seems to be giving dividends. According to the Energy and Minerals Minister of Uganda, Ruth Nankabirwa, some US energy companies have expressed interest to invest in the country’s minerals and energy sector.
Ms Nankabirwa said she had met and invited American energy companies during her recent trip to the US, with due follow-up with the American ambassador, Natalie Brown in Uganda.
Prior to that, Ms Nankabirwa led a Ugandan delegation to participate in the Houston-Africa Energy Summit held in Houston on September 22 and 23 and interacted with leading energy companies such as Chevron, Kosmos Energy, Halliburton, Vaalco Energy, Shell and ExxonMobil. During the summit, she urged US energy companies to provide affordable financing for energy projects such as dams, refineries and oil pipelines and investment in new oil blocks.
Also read;
https://trendsnafrica.com/uganda-disputes-world-bank-ranking/
https://trendsnafrica.com/ugandas-gold-ore-deposits-estimated-at-31-million-tonnes/
