President Museveni Blasts MP Kamuntu’s Raw Iron Ore Exports, Calls for Economic Reform

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KABALE – President Yoweri Kaguta Museveni has blasted the Rubanda West County Member of Parliament, Moses Kamuntu Mwongyera, for his involvement in the export of raw iron ore to foreign nations.

Museveni’s stern words were directed at MP Kamuntu, who also owns Kamuntu Minerals Investment Limited. The President expressed his dismay during his address as the guest of honor at the National Youth Day Celebrations held at Kigezi High School Lower Playground in Kabale Municipality.

Despite receiving accolades from the event’s Master of Ceremony, Tadeo Taremwa, the Kabale District Youth Chairperson, and Kiconco Brendah, the national youth female affairs representative, who urged the President to consider a prominent government position for Kamuntu, Museveni openly voiced his discontent despite the commendations, he had reservations about Kamuntu.

MP Kamuntu has faced multiple allegations from Artisanal Miners engaged in the iron ore trade and landowners with mining sites in Rubanda and Kabale Districts. Accusations range from fraudulent activities to forceful encroachment on their properties.

President Museveni lamented the substantial financial loss the country endures due to the export of raw iron ore. He highlighted that Kamuntu often exports iron ore at a mere $47 per ton, while a processed ton could fetch anywhere between $600 to $700, as per Museveni’s estimates.

“This economic disparity has contributed to a severe financial crisis within the nation and has exacerbated the unemployment situation for Ugandans”. Museveni said.

Museveni Inquired about the progress of the iron ore factory from the Minister of State for Trade, Industry, and Cooperatives, David Bahati who revealed that Modern Steel Company is currently in advanced stages of obtaining the necessary licenses to initiate the mining process.

President Museveni extended his warnings to miners who engage in exporting wolfram as well. He directed Kamuntu to cease the immediate export of Uganda’s iron ore and cautioned that failure to comply would result in serious repercussions.

CUE IN PRESIDENT MUSEVENI….ON KAMUNTU…….RR/ENG//

Kamuntu who is serving his first term in parliament as Rubanda West Mp is the only licensed dealer in Iron ore mining from the Kigezi sub region and he mainly exports the raw mineral to Kenya.