The Sukulu phosphate project, in Tororo district, Uganda has received $240-million in development funding, which represents one of the largest privately-funded mining sector investments in Uganda and sets a “unique precedent” for public-private partnerships in the country, says Uganda’s Ministry of Energy and Development (MED). The Chinese State-owned Industrial and Commercial Bank of China (ICBC) in cooperation with South African commercial banking firm Standard Bank Group will disburse the money in tranches to Chinese investor enterprise Guangzhou DongSong Energy Group which is the project developer.
