There are a large number of unexplored iron deposits in the southwestern part of Uganda, and some mines have an iron ore grade of around 68%.

Uganda's iron ore resources are mainly divided into hematite and magnetite. Hematite is roughly distributed in the southwest, including Butare in the Kabare region, Kashenyi, Kvanyamuzinda, and Kamena in the Kisoro region. Kamena's total reserves exceed 50 million tons, Fe2O3 content is 90% to 98%, and impurities such as S, P and Ti are small. Mugabuzi in the Mbarara region, Nyaituma in the Hoima region, and Namugongo in the Mayuge region The iron ore reserves are both 2 million tons.

Magnetite is concentrated in the southeast, including Bukusu in the Nakhupa region, Nagalwe, Nakhupa and Suren in the Manafwa region. Surumbusa, Sukulu in the Tororo hill area, Napak area, etc. Among them, Sukulu's magnetite reserves are about 45 million tons, the average iron ore grade is 62%, P2O5 content is 2.6%, and TiO2 content is 0.9%. The total reserves of Bukusu, Nagawi, Nakupa and Sulumbusa are approximately 41 million tons.

It is understood that Uganda's iron ore reserves amount to 5 billion tons, but its annual utilization is only 16500 tons. This is due to the removal of impurities in iron ore, which requires a large amount of coal or natural gas, while Uganda does not have metallurgical coal resources. Uganda has tried to import metallurgical coal from South Africa, but it is costly; despite the abundant natural gas reserves in neighbouring Tanzania, it still needs to establish a complete natural gas pipeline transportation network.

It is reported that due to its lack of capacity in the development of mineral resources, the Ugandan government is currently supporting and encouraging foreign investors to participate in the exploration and exploitation of mineral resources in the country.