selemala
JF-Expert Member
- Feb 14, 2007
- 370
- 253
Source: Africa: I Love That Man Trump - Uganda's Museveni
Museveni also urged the forum to focus on who owns the natural resources on the continent.
“On issue of minderal resources, my question is who owns the minerals. With petroleum we have production sharing agreements (PSA) where the company which has exploration licences agrees with government to pay so much to regain what they invested and the rest is for government,” he said, adding that, it is not clear what the case is with other minerals including where companies own minerals but governments have loyalties.
“In Uganda, am not bothered with minerals because Uganda has been developing at a good rate depending on agriculture and industry. We discovered petroleum about 12 years ago but up to now we have not exploited it because I could not agree with those companies. They wanted to cheat us. I said no, the petroleum has been in the ground for the last many years it can stay there until we agree. That is because in my view, minerals should belong to the country,” he said.
Mineral rich Uganda
Museveni also emphasized locally based value addition for countries to fully exploit their natural resources for the benefit of their people.
“We have got huge reserves of iron ore in Uganda. Indians came and said they want to export soil to India and process it there. If they take as soil, they would pay $38 per tone. Our iron ore is 70% pure, one of the best in the world, only second to Peru. When steel prices are high instead of $38 per tone, you get$900. I said nobody will take an ounce of iron ore from Uganda until we agree.. up to now its still in the ground,” he said.
He revealed that the government agreed with the Chinese to process locally the lover version magnetite which they are using to produce steel.
On petroleum, Museveni said various companies tried to convince Uganda to export its petroleum from abroad and where discouraging the country from building an oil refinery saying it was not economically productive.
“I was told Uganda does not need a refinery because it was not productive and not economic that means those with refineries are Mother Theresas’ working for nothing. I went to Iran and asked how many refineries they have and they said they got 9 and building another 6. I said no refinery no oil. It is still in the ground until we agree,” he said.
Museveni also urged the forum to focus on who owns the natural resources on the continent.
“On issue of minderal resources, my question is who owns the minerals. With petroleum we have production sharing agreements (PSA) where the company which has exploration licences agrees with government to pay so much to regain what they invested and the rest is for government,” he said, adding that, it is not clear what the case is with other minerals including where companies own minerals but governments have loyalties.
“In Uganda, am not bothered with minerals because Uganda has been developing at a good rate depending on agriculture and industry. We discovered petroleum about 12 years ago but up to now we have not exploited it because I could not agree with those companies. They wanted to cheat us. I said no, the petroleum has been in the ground for the last many years it can stay there until we agree. That is because in my view, minerals should belong to the country,” he said.
Mineral rich Uganda
Museveni also emphasized locally based value addition for countries to fully exploit their natural resources for the benefit of their people.
“We have got huge reserves of iron ore in Uganda. Indians came and said they want to export soil to India and process it there. If they take as soil, they would pay $38 per tone. Our iron ore is 70% pure, one of the best in the world, only second to Peru. When steel prices are high instead of $38 per tone, you get$900. I said nobody will take an ounce of iron ore from Uganda until we agree.. up to now its still in the ground,” he said.
He revealed that the government agreed with the Chinese to process locally the lover version magnetite which they are using to produce steel.
On petroleum, Museveni said various companies tried to convince Uganda to export its petroleum from abroad and where discouraging the country from building an oil refinery saying it was not economically productive.
“I was told Uganda does not need a refinery because it was not productive and not economic that means those with refineries are Mother Theresas’ working for nothing. I went to Iran and asked how many refineries they have and they said they got 9 and building another 6. I said no refinery no oil. It is still in the ground until we agree,” he said.
ghadhabu! Swaumu yenyewe bado teh.poa mkuu.
