By Spy Uganda
Former Tororo legislator Sanjay Tanna is the new Board Chairman Kilembe mines, Uganda’s largest copper mine with estimated deposits of copper in excess of 4,000,000 tonnes and an undetermined amount of cobalt ore.
Tanna’s appointment was confirmed in a letter inked by the Minister of Finance & Economic Planning, Hon Matia Kasaija who said the shareholders of Kilembe Mines Limited (KML) at their meeting held on the 20th day of June 2022 resolved to appoint Tanna as the Chairperson of the Board with effect from 1st July 2022 for a period of three years which is renewable upon satisfactory performance.
”The terms and conditions of your appointment shall be as presently approved by the shareholders or the Directors of KML and as may from time to time be determined by the shareholders,” states Kasaija’s letter adding;
”You are required to indicate your acceptance of the appointment within 7 days of receiving this letter. Once your acceptance has been received, the Company Secretary of KML will provide you with the documentation to acquaint you with the affairs of the Company.”
Now, yesterday the Hon. Chairman was sworn into office at a function held in the board room of the Ministry of Finance.
The State Minister of Finance for Investment and Privatization Hon. Anite Evelyn and Minister of State for Minerals Hon Peter Lokeris were among the many who witnessed the inauguration of Tanna and his fellow board members that include; Omubiito Engineer Atwoki Gilbert Mujogya-Board Member, Ruth Sengonzi-Board Member, Semitala Nobert- Board Member, Eric Chandiga-Board Member and Hon. Loice Bira Bwambale Board Member.
Meanwhile, in his acceptance speech, Tanna pledged to consult the old board and the ministry officials to revamp the various revenue sources to attract investors and make a value-for-money proposition.
Tanna vowed to turn around ‘things’ in his first 100 days to ensure the company gets up and running from its current shortfalls.
The Board Members were challenged by outgoing board Chair Edwards Katto to revive Kilembe to its lost glory.
The company has been marred by low revenues, debts, court cases and a lack of requisite investment by the government. The minerals Minister Peter Lokeris assured both outgoing and incoming board members that the government is ready to support the new board to improve revenue and bring in an investor to improve the mines. He cited improved copper and cobalt prices on the world market.
Permanent Secretary Ministry of Energy Irene Bateebe Atwoki also pledged full support to the new board.