African Gold Refinery Ltd.

Politics & Policy

US sanctions Ugandan refinery over illicit gold trade

The United States has sanctioned a network of companies controlled by Alain Goetz, a Belgian businessman who owns a gold refinery in Uganda, for participating in the illicit trade of gold from the Democratic Republic of Congo
A group of people looking at gold bars
CommoditiesPolitics & Policy

UN report links Uganda to smuggled DRC gold, says exports are underdeclared

Uganda, Rwanda, and Burundi are the main transit routes of gold smuggled from the eastern Democratic Republic of Congo to Dubai, according to a new United Nations report
Houses can be seen in the distance on the other side of Lake Kivu in Bukavu, Democratic Republic of Congo. It is a verdant, lovely scene that belies the country's turbulent recent history, particularly in this region — the eastern part close to Rwanda and Uganda.
CommoditiesPolitics & Policy

Venezuelan gold behind Uganda’s best ever monthly exports

In March, Uganda's merchandise exports surged to $604.4mn from $296.3mn in the previous month, driven by a jump in gold exports to their highest level ever
Ugandan President Yoweri Museveni, Irene Muloni, minister for energy and minerals development (right), AGR Business Development Manager Alphonse Katerebe (centre) and two unidentified people stand near gold flakes and ingots at the African Gold Refinery in Entebbe on 20 February 2017. Alain Goetz, the Belgian owner of the refinery, stands next to Mr Museveni, and is partially obscured from view. The refinery was officially launched on 20 February 2017, and is Uganda's first official gold refinery. Uganda's locally mined gold is negligible, but the country is a transit point for gold exports from the neighbouring Democratic Republic of Congo, which has large reserves, and Tanzania, one of Africa's largest gold producers.