Ugandan police spokesman Fred Enanga told The Associated Press that the company, African Gold Refinery, had already exported 3.8 tons of the gold that may have originated from South America.
Enanga said police are protecting the remaining 3.6 tons as they await advice from the attorney general on whether to seize the gold and criminally charge the company’s directors.
He said the company, which is licensed to deal in raw gold, is yet to reveal the source of the disputed consignment.
The company didn’t immediately respond to e-mailed questions.
Government-owned media, citing local police, reported that the gold came from Venezuela, which is under U.S. sanctions.