Aaron Hoddinott and Alexander Smith of Pinnacle Digest discuss Uganda’s recently reported gold discovery, which the country says has an estimated value of over $12 trillion.

According to Reuters,

“Over the last two years aerial exploration was done across the country followed by geophysical and geochemical surveys and analyses, Solomon Muyita, spokesperson for the Ministry of Energy and Mineral Development, told Reuters.”

The article continued,

“Muyita said an estimated 320,158 tonnes of refined gold could be extracted from the 31 million tonnes of ore.”

The Federal writes in Uganda finds 31 mt of gold ready to be mined; signs up Chinese firm, that,

“According to the Ugandan government, the value of 31 million tonnes of gold ore stands at $12.8 trillion. The tweet said refining gold locally can lead to the generation of 3,000 direct jobs and other opportunities.”

Although known to be mineral-rich, Aaron explains why he believes it is premature for Uganda to give specific numbers on how much gold may be in the ground.