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Tag Archives: gold

Eight traders arrested in Tanzania for smuggling gold

Dar es Salaam, Tanzania | XINHUA |  Eight traders have been arrested in Tanzania’s northwestern region of Geita in connection with smuggling out of the country an unspecified amount of gold, an official said on Sunday. Doto Biteko, the Minister for Minerals, announced the arrest of the eight traders in …

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UPDF soldier, five others remanded over robbery of UGX100M

Kampala, Uganda | THE INDEPENDENT | A Uganda People’s Defense Forces soldier has been remanded to Makindye military police barracks on charges of robbing 100 million shillings from Shafik Bukenya, a businessman dealing in gold. Lance Corporal Eric Tumwine Bizimungu, also known as John attached to the 3rd Battalion was on …

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Uganda in sanctions crisis

Targeting of top officials by U.S. puts country in diplomatic minefield Kampala, Uganda | IAN KATUSIIME | For the fourth year in a row, the Uganda government has been on the receiving end of sanctions from the United States which accuses it of overseeing deteriorating human rights in the country. …

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Artisanal miners accept to vacate Kassanda gold mines

Kassanda, Uganda | THE INDEPENDENT | More than 30,000 artisanal and small-scale miners, pit owners, mineral processors, and dealers have accepted to voluntarily vacate Kisita mines in Kassanda district. President Yoweri Museveni issued a directive in May this year, giving a grace period of six months to miners under Kitumbi Small …

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Construction of $200M gold refinery starts in Busia

  Busia, Uganda | THE INDEPENDENT | Chinese firm Wagagai gold mining company limited has embarked on the construction of a gold refinery in Busia district. Valued at $200M, the gold refinery will seat on 300 acres of land covering Alupe, Akipenet, Amagoro and Amonikakine villages in Buteba Sub-county. Speaking …

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Gov’t starts engaging gold dealers over decline in taxes

Kampala, Uganda | THE INDEPENDENT | Government has started engaging owners of gold companies so as to reach an understanding over the new taxes imposed on gold. This is after the Ministry of finance reported that the country lost over 470 billion Shillings in taxes on the exportation of gold due …

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Taliban hands over seized cash, gold to Afghan central bank

Kabul, Afghanistan | Xinhua | The Taliban have handed over about 12.3 million U.S. dollars cash and some gold to Da Afghanistan Bank (DAB), the country’s central bank, a bank statement said on Thursday. The cash and gold bars found in the houses of former administration’s officials and local offices of former …

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Is it time to invest in gold?

The conditions created by Covid-19 seem perfect for the price of gold to rise. Is gold now the best investment asset available? | MUSHTAK PARKER | These are challenging times for everyone as we enter the second year of a pernicious Covid-19 pandemic. There is a general consensus that the …

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