Uganda’s energy and mining ministry has started setting up the framework of a new mineral company, which will manage the country’s mineral resources, a local media report said.

The government has set up an inter-ministerial committee to commence efforts of setting up Uganda National Mineral Company, state-owned Kenya Broadcasting Corporation said, citing Minister of Energy and Mineral Development Ruth Nankabirwa Ssentamu.

The company will likely hold stakes in mineral companies with mining rights in the East African Community member state.

Uganda has already identified potential new sites for gold mining in several parts of the country, including Buhweju, Mubende, Namayingo, Karamoja, and Zombo districts.

On the other hand, over 500 million tonnes of rare earth elements have been estimated in eastern Uganda by the Makuutu Rare Earth project, the report said.

(Writing by P Deol; Editing by Anoop Menon)