Wagagai Mining (U) Limited was established in March 2019. It is a wholly-owned subsidiary invested and constructed by China Liaoning Hongda Enterprise Group in Uganda, East Africa, in response to the Belt and Road Initiative. The company integrates exploration, mining, ore dressing, smelting and sales.

The Wagagai Gold Mine developed and constructed by the company is located in the Busia District of Uganda. The mining area covers an area of 9.22 square kilometers. The proven ore reserves are 30 million tons, with an average grade of 1 gram per ton, and the gold metal content is approximately 30 tons. It can operate continuously for more than 20 years and is the largest gold industrial base in Uganda.

Currently, the project has been officially put into production. It is equipped with the world's most advanced mining machinery and equipment, adopts first-class production processes in the industry, has a senior management team, a team of professional engineers, and reliable security forces. It can process 1.5 million tons of ore annually and produce 1.2 tons of gold with a purity of 99.99% per year, providing employment for more than 2,000 local people.