The Kasese Cobalt Company complex, built to recover cobalt from historic Kilembe pyrite stockpiles, has been on care and maintenance for years. Global cobalt demand - driven by electric vehicle battery chemistries that still require the metal - has hardened enough in 2023 to bring serious investor conversations back to Kampala.
The Ministry of Energy and Mineral Development has confirmed active engagement with several potential partners. Any revival will depend on a licensing structure that reflects Uganda's revised mineral law, on environmental rehabilitation obligations, and on a workforce plan that draws heavily on Kasese itself.
If the negotiations conclude, Kasese Cobalt could re-anchor a Rwenzori-region industrial cluster that has been in retreat for a decade. UMT considers it one of the most consequential files on the ministry's 2024 agenda.