Uganda World Bank Involvement:

Uganda World Bank Involvement: 

Over the period of 2004 to 2011, the World Bank, together with the African Development Bank and the Nordic Development Fund invested approximately US$32 million to strengthen the government's capacity to develop a sound minerals sector based on private investments and improvements in selected artisanal and small-scale mining areas. Over the period of 2004 to 2011, annual investment in mining exploration increased significantly from US$5 million in 2004 to US$47 million, with a total cumulative investment over the period of US$329 million.   Exports of cement, gold and cobalt (representing about 95 percent of total exports) also increased during the same period, from US$22 million per year in 2004, peaking to between US$250-350 million in 2008 and then reducing to US$120 million at the end of 2010 as commodity prices relaxed. In part because of increased volume and prices of mineral production, but also due to increased government capacity, total fiscal revenues more than doubled over the life of the project. This increase in revenue was achieved at the same time as the increase in the transparency of mining sector revenues as evidenced by regular publication of such mineral revenues. The project also had a significant impact on the incomes and operating performance of artisanal miners.  Incomes of artisanal miners increased 60 percent from US$4.81 per day to US$5.00 – US$7.50 per day for precious metal and industrial mineral miners respectively.  Furthermore, by the end of the project the Government of Uganda had received and approved, 590 health and safety plans from artisanal miners, up from zero in 2003.