Uganda Claims Exploration Surveys Discovered 31 Million Metric Tons of Gold

Uganda Claims Exploration Surveys Discovered 31 Million Metric Tons of Gold


While gold is often considered a scarce asset, Uganda explained on Wednesday that recently conducted exploration surveys indicate that there’s roughly 31 million metric tons of gold ore waiting to be mined in the region. Moreover, a spokesperson from Uganda’s Ministry of Energy and Mineral Development said there’s an estimated 320,158 tonnes of refined gold available.

Uganda Claims the Country Has 31 Million Tonnes of Gold Ore — 320,158 Metric Tons of Refined Gold Is up for Prospect

During the last five years, the value of one ounce of fine gold has risen by 48% against the U.S. dollar. An ounce of gold’s spot market value tapped an all-time high this year at $2,060 per unit.

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Today, an ounce of gold is $1,840 per unit

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