Uganda Opens Country’s First Gold Refinery, to be Operated by Russian-Owned Firm

Uganda has opened the country’s first gold refinery with plans to refine gold from neighboring Democratic Republic of Congo as well as other countries in the region.

The new gold refinery, opened in the capital city of Kampala, will be operated by the Russian-owned firm Victoria Gold Star and is expected to produce at least 120 pounds of gold a day.

With the opening of the new refinery Uganda hopes to establish a legitimate trade in gold and erase a history of accusations that it had previously benefited from the gold mines of a war-torn DR Congo.

Victoria Gold Star managing director said he hopes to eliminate any doubt about the legitimacy of the new gold refinery, saying “We shall require import and export license for the gold that we shall refine.”

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