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Rwanda’s mining sector set to double income by 2020

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Kigali: Rwanda joined the rest of the world to celebrate the ‘International Mining Day’ as the country targets double income from its rapidly growing mining sector.

The country’s second largest foreign exchange earner is expected to earn US$ 800 million by 2020 - up from US $373.4 registered in 2017 - with a projection of $1.5 billion in 2024.

Rwanda's current mineral exports include gold, gemstones, cassiterite, coltan, and wolfram while explorations are ongoing for new types of minerals.

Held under the theme “Transforming Rwanda’s Mining Sector through Professional Practices That Promote Compliance in Health, Safety and Environmental Standards”, the mining day comes at a time when the government has undertaken a series of reforms in the mining sector to meet international standards.

“Celebrating the Mining Day is an opportunity to reflect on achievements as well as gaps in the mining sector to plan the way forward” Chief Executive Officer of Rwanda Mines, Petroleum and Gas Board, Francis Gatare said.

Efforts have been made to transform Rwanda’s mining from artisanal to professional mining practices. This is achieved through promoting geological knowledge, investments in mining, value addition, taking account of environment and social concerns while spurring economic transformation, industrialization, growth and development as stipulated in the new mining vision of Rwanda mining policy.

Part of achievements in transforming the mining sector include the new mining law addressing among other issues, health and safety of workers and environmental compliance.

Efforts in exploration to obtain increased geoformation, the on-going repatriation of Rwanda mineral information collected during the colonial era as well as Memoranda of Understanding signed and licences issued to competent investors for exploration and value addition are among the achievements.

On top of the new mining and quarry operations law, the mining policy operations reforms and tools are being developed to support the development of the sector. Thematic Working Group has also been created to engage stakeholders and development partners for adequately ensuring the implementation of the policy orientations for the development of the mining industry.  

In August this year, Rwanda hosted TIC conference, first of its kind in Africa attracting key global players in mining, where global players and investors were tipped on Rwanda's efforts in professionalising the sector as well as investment potentials presented by the sector. (End)

 

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