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Thursday, 20th December 2007 (2936 views)

The potential for gold mining in Uganda is real and could begin in the near future, it has been claimed.

Gary Fitchett, the president and chief executive of IBI Corporation, has claimed that the recent exploration surveys carried out by Uganda's energy ministry demonstrate that gold mining is a viable option in the country.

"We have tested the samples and the results are promising," the Canadian mining expert said.

Canmin Resources Uganda, a subsidiary of IBI Corporation, explored a 2,000 square kilometre area for gold and the results have led the company to prepare further groundwork to establish more precisely the mineralisation in the country.

Speaking to the New Vision, Mr Fitchett said: "By the end of 2008, we would be seeing the way forward for Uganda as far as mining gold and uranium are concerned."

Meanwhile, in Argentina, initial drilling results for the Don Nicolas gold project in Santa Cruz Province have confirmed that the operation is economically viable, gold company Hidefield has announced.

 

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