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The mining industry in Uganda reached peak levels in the 1950’s and 1960’s when the sector accounted for up to 30% of Uganda’s export earnings. However, political and economic instability experienced in the country in the 1970’s and the recent global economic slowdown led the sector to decline drastically.

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A recent airborne geophysical survey has revealed that Uganda possesses more than 260 million tons of iron ore, a mineral needed for the development of the steel industry.

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Uganda may become a more important player in the African iron ore market, after a geological survey revealed much bigger deposits of the steel-making ingredient than found during colonial mappings.

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Kumba Iron Ore's chief assets are three mines in South Africa that produce about 40 million tons of ore per year. Operating principally through 74%-owned subsidiary Sishen Iron Ore Company (SIOC), which operates the Sishen mine, Kumba exports about three-quarters of its ore to 30 customers, mostly in Asia and Europe.

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