Muko Iron and Steel Project
Project Description
PROJECT DESCRIPTION:
Muko hosts hematite deposits of iron ore with 150 million tonnes. This haematite iron ore shows characteristics of high-quality iron ore (55-68% Fe). Surficial investigations show thin beds of mineralization ranging from 5 to +/-100m.
A minimum of 800,000t/y of iron ore mining is required to satisfy the Ugandan Market, while 4 million t/y is required in the East African region (Uganda, Kenya, Tanzania).
PROJECT LOCATION:
Bukusu District, Uganda
LEAD AGENCY/ PROJECT PROMOTER:
Uganda Investment Authority
CURRENT STATUS/ STAGE OF PROJECT:
Greenfield
ACTIONS REQUIRED/ IMPLEMENTATION ARRANGEMENTS/ CONTRACT TYPE:
Private
AVAILABILITY OF PRE-FEASIBILITY STUDIES, FEASIBILITY STUDIES, AND OTHER STUDIES:
Concept stage
ESTIMATED COST OF THE PROJECT:
USD 500 million
INVESTMENT REQUIRED
USD 500 million
REMARKS:
Uganda’s import bill for steel products is currently valued at USD 350 million.
There is huge opportunity in the East African Region (Kenya, Tanzania and Uganda), which is currently importing 4 metric tonnes of steel per year and is forecast to grow at 5% annually. Uganda stands to benefit from this regional growth in demand by supplying its steel products to the region. It is targeting up to 20% of the EAC market.
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Country
Uganda
Location (s)
Bukusu District
Sector
Infrastructure: Transport, Energy, ICT, Mining and Water
Sub Sector
Mining
Investment Value Range
+ 100 million USD
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