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The Big Story Behind the Eviction of Mubende Gold Miners

In the aftermath of the ruthless eviction of Artisanal and Small-scale Miners (ASMs) from the gold mines in Mubende District on August 3, 2017, President Museveni said he had not given the directive but rather had only told the soldiers and other security agencies to be on standby. Victims of

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Peter Lokeris

Ministry of Energy launches Biometric Registration of ASMs in Uganda

A landmark event in the mining sector of Uganda as the country positions extractives industries as the engine for social and economic development saw the launch of the biometric registration of artisanal miners’ project on 29th March 2019. The project is geared towards formalizing and regulating

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phillip debates

Oil jobs: Government to establish Petroleum Skills Development Fund

At least $ 44.7m will be injected in the fund in the next 8 years to skill Ugandans for Oil jobs. In order to increase the number of Ugandans with qualifications and skills to take up jobs in the oil and gas sub-sector, government plans to establish a fund – Petroleum Skills Development Fund.

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Museveni, Tullow boss make a deal on Capital Gains Tax

Tullow is set to sell a substantial part of its assets in Uganda to Total E&P Uganda and CNOOC Uganda – a farm-down that attracts capital gains tax. President Yoweri Museveni and the Chief Executive Officer (CEO) of Tullow Oil plc have agreed a deal that will enable oil company enjoy a phased

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auditor general

Shs 125 billion withdrawn from the Petroleum Fund irregularly – Auditor General

Auditor General notes the money was withdrawn from the petroleum fund without following procedures laid down in the Public Finance Management Act, 2015. In his latest report to Parliament, John Muwanga, Auditor General has faulted the Ministry of Finance, Planning and Economic Development

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Did you Know?

Petroleum Fund, Stabilisation Fund, Sovereign Wealth Fund

A fund, separate from government’s general budget, which receives part or all of the revenues from natural resources.  Norway, Chile and some oil producing countries in the Middle East have created such funds.   The money is invested, rather than spent, so that future generations will also have the opportunity to benefit from the present harvesting of natural resources.  Saving some of the revenues for future use also helps to reduce the risk of ‘Dutch Disease.’

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