Tembo Chairman Sanjay Discusses Positioning Uganda to Global Stage in Steel at 14th Mineral Wealth Conference

Tembo Chairman Sanjay Discusses Positioning Uganda to Global Stage in Steel at 14th Mineral Wealth Conference

Uganda’s mining industry came under the spotlight last week, as local and international stakeholders and players gathered at the Kampala Serena Hotel for the 14th Annual Mineral Wealth Conference.

Organized by the Uganda Chamber of Energy and Minerals, in collaboration with the Ministry of Energy and Mineral Development, and other stakeholders, the two-day event, was held under the theme: “Sustainable Mineral Development Through Collaboration, Innovation, and Green Transitions: Unlocking Potential for a Resilient Future.”

During a panel of discussion at the two-day conference which explored opportunities in sustainable mineral development and investment, Sanjay Awasthi, Chairman and Founder of Tembo Steels shared valuable insights on Uganda’s mining and steel sector, drawing from Tembo Steels’ journey to becoming a leading virgin steel producer.

Sanjay discussed the pioneering processes that are recognized even on a global level. He highlighted key fundamentals that will drive import substitution, maximize the use of local resources, and position Uganda as a more competitive player on the global stage.

Tembo Steels (U) Ltd. is a major steel manufacturer in Uganda and one of the largest and most diversified steel plants in Africa. The company, which is ISO 9001:2015 certified, produces a wide range of steel products using locally sourced iron ore.  Tembo Steels is unique in the region for operating a fully integrated steel plant. It utilizes virgin iron ore from Kabale and coal to produce sponge iron, which is then used to create finished products for the East African market.

The company is a pioneer in “green steel” manufacturing, using Direct Reduced Iron (DRI) technology and renewable energy to reduce carbon emissions by up to 70–80% compared to traditional methods. Tembo Steels has two operational plants in Uganda, located in Lugazi and Iganga. A new DRI plant at the Iganga facility was commissioned by President Yoweri Museveni in January 2025. Founded in 2001, the company contributes significantly to Uganda’s industrialization by creating jobs and supporting local procurement.

The 14th Annual Mineral Wealth Conference featured diverse initiatives, activities, onsite supplier development engagements, exhibitions, and presentations, from global and local speakers.

Ruth Nankabirwa, the Minister of Energy and Mineral Development, stated that Uganda continues its march toward mineral value addition with key milestones.

“Uganda is blessed with gold, copper, iron ore, lithium, cobalt, graphite, rare earths, and a dynamic youthful population. With abundant energy and fertile land, we are positioned to grow our economy tenfold by 2040, through industrialization, value addition, and strategic partnerships,” she said.

Nankabirwa further pointed out that the mining sector is changing fast, with the Uganda National Mining Company now fully up and running, Kilembe Mines brought back to life- through a Production Sharing Agreement, and new steel and cement plants already in place to meet the growing construction demand.

At the heart of the discussions, was the finance sector’s role in supporting the mining industry’s green transition and unlocking its potential for a resilient future.

Uganda Chamber of Energy and Mines Chairperson- Aggrey Ashaba, highlighted the critical role financial institutions play in driving growth in the mining sector, particularly through support for sustainability and value addition.

In her speech, British High Commissioner Lisa Chesney praised Uganda’s spirit of collaboration, highlighting that strong partnerships between Uganda and UK, especially in finance, will be key to driving growth and unlocking new opportunities.

As Uganda positions itself as a key player in Africa’s mineral landscape, collaboration between the government, industry, and financial institutions will be essential.