Euro Gold Refinery has signed a Memorandum of Understanding (MoU) with the Kakoka Artisanal Miners Association in Abim District to formalize gold production, secure licenses, and improve access to regulated markets. The agreement, signed on August 11 at the refinery’s Kampala headquarters, includes technical support, infrastructure development, and initiatives to promote responsible mining practices. The partnership aligns with Uganda’s broader efforts to integrate artisanal and small-scale miners into the formal economy, enhance working conditions, and ensure gold traceability. Euro Gold Refinery stated the deal would help the association obtain an artisanal gold mining license and develop site infrastructure, with Kakoka’s executive director, Denis, emphasizing its role in protecting miners from exploitation and boosting earnings.
The collaboration was formalized during a ceremony attended by Euro Gold Refinery director Benard Feni and Kakoka’s executive board, alongside State Minister for Minerals Phiona Nyamutoro, who has championed formalization of informal mining. Nyamutoro’s presence underscored the government’s focus on regulating the sector, which remains plagued by unlicensed operations. The agreement mandates improved mining practices, technical assistance, and local gold processing, with Euro Gold highlighting its commitment to community empowerment and sustainable industry growth. The refinery, operational since July 2025, has expanded its partnerships to include mining communities across Karamoja, Busia, and other regions, linking local producers to refining capacity and formal markets.
Euro Gold Refinery’s role in Uganda’s gold sector has grown following its selection by the Bank of Uganda under the Domestic Gold Purchase Programme. In April 2026, the central bank awarded the refinery a contract to supply gold for its reserves, competing against international firms in a transparent bidding process. Benard Feni, Euro Gold’s director, confirmed the win, stating the company was chosen as the “best bidder” after a competitive review. The program aims to diversify Uganda’s reserve assets while bolstering domestic refining capabilities. However, the sector faces challenges, including the Auditor General’s 2024 report revealing $3.014 billion (Shs11 trillion) in gold exports during the 2023/24 financial year without proper permits, alongside Shs68.84 billion in unpaid gold export levies.
The Kakoka partnership reflects Euro Gold’s strategy to strengthen its market position as Uganda shifts toward domestic gold processing. The refinery, which employs over 70% Ugandans trained in refining, has positioned itself as a key player in the industry’s formalization. While the agreement offers hope for improved regulation and miner welfare, experts caution that sustained investment in safety, environmental management, and compliance remains critical. The government’s push for formalization, coupled with Euro Gold’s expanding network, signals a pivotal moment for Uganda’s artisanal mining sector, though challenges in enforcement and oversight persist. The refinery’s success will depend on balancing growth with accountability, ensuring that formalization translates to tangible benefits for miners and the national economy.