Uganda is leading a new refinery to "clean" gold exports

Uganda is leading a new refinery to "clean" gold exports

 

 

 

 

 

 

Activists say the gold is used in funding conflict

Kampala, Uganda (CNN) - For years ago, the only problem was that hinder the gold export trade of Uganda, and which brings in tens of millions of the country, is that the vast majority of the yellow metal comes from outside the national territory, but a man of Russian businessmen, working on the solution their dilemma.
Until now, the majority come gold issued by the Uganda Democratic Republic of Congo, in a dialectical relationship between the two countries are subjected to severe criticism by human rights groups say that gold is smuggled out of Congo, and used proceeds to finance the civil war in East Africa.
Says Yuri Bogoroditsky, Managing Director of "Victoria Gold Star," which has the first refinery of gold in Uganda, said he "wanted to make the country an important player in the gold industry is legitimate, through the purchase of raw materials, refining, and export the final product from a refinery in Kampala."
Was opened by the refinery, with investments worth about $ 1.5 million, in May last, and can process about 1.2 tonnes of gold ore per month, which is equivalent to approximately $ 35 million, the value of exports from Uganda yellow metal in 2008.

It is noteworthy that the gold reserves in the depths of the earth have been discovered in Uganda last year alone.
Bogoroditsky say "in the Congo, gold is located in the vicinity of the surface, however, that Uganda will need to invest in extraction operations in order to be able to reap the fruits of its reserves of gold."
He said in an interview with "African markets" on CNN "we already have many of the contracts with mining companies and extraction .. and plan to begin formal coordination with the governments of neighboring countries in East Africa."
And chose Bogoroditsky and investors who were with him, the capital of Uganda because of its relative stability, and proximity to major gold resources in neighboring countries such as Tanzania, Kenya, and Congo.
Refinery has contracted with buyers from the United States, the United Kingdom, and South Africa in recent months, says Bogoroditsky he also plans to start importing the precious metal is legal.
Last month, the government banned the Congolese, signed an agreement with the refinery Bogoroditsky, extract the gold from the eastern provinces, because of the conflict there, effectively cutting off large quantities of raw materials to the refinery.