Rwanda signs $39m mining deal

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The Government of Rwanda (GoR) has today signed three large scale mining agreements Mining with Tri Metals Mining (Rwanda) Limited (“Tri Metals”) to undertake mining operations in Bisesero, Karongi District, in a ceremony held in Kigali.

Tri Metals is a subsidiary of Mawarid Mining LLC a wholly owned subsidiary of MB Holding Company LLC registered in the Sultanate of Oman.

With an estimated project value of USD 39 million, Tri Metals will carry out mining operations to extract mainly Cassiterite (Tin),Niobo-Tantalite (Tantalum and Niobium) and Wolframite (Tungsten)  in Bisesero concessions in the  Western Province.

The overall objective of the agreements is to document the main roles and responsibilities of both the investor and the Government of Rwanda with respect to the mining operations and to grant permission to the investor to be able to operate in Rwanda.

The Minister of State in charge of mining in the Ministry of Natural Resources, Honorable Evode IMENA said that “the Government is committed to supporting investments in the mining sector targeting to increase the sector’s production and value addition”.

Recent studies identified areas in Rwanda that are rich in mineral deposits and show that the potential for more underground wealth is higher than previously estimated. To encourage investments in the mining sector, the Government of Rwanda provides mineral certifications that meet international standards. Also, to improve mining production, trainings are provided for miners.

According to Rwanda Development Board’s Chief Executive Officer Hon. Francis Gatare, Rwanda has various types of mineral deposits and we are looking forward to showcase investment opportunities in the mining sector while working with our partners to develop and enable more investments in this sector.

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