With the global proliferation of electric vehicles and alternative energy resources, the demand for cobalt and other equally raw import materials like copper and nickel is increasing, which makes the stockpile of cobalt economically viable.
Uganda had a $1.1 billion trade deficit with Tanzania at the end of 2020/21 financial year according to Bank of Uganda trade statistics. And it's the first time Uganda’s trade deficit and import bill with a neighboring country exceeded a billion dollar.
According to information obtained by URN, in its recent meeting cabinet resolved to demolish all structures of Ministries, Departments and Agencies in wetlands, river and lake catchment areas and other protected areas.
“Contracts worth 167 million dollars out of the 1.362 billion for the Tilenga and Kingfisher projects that have been presented to the Authority for approval are expected to be awarded directly to Ugandan companies. This only accounts for 19 out of the more than 37 work packages to be awarded by the licensees,” says Ms Namubiru.