Rwanda has a goal to earn $1.5 billion from the mining sector every year before the end of 2025, as revealed by Dushimimana Narcisse, Head of Department and Inspection at the Rwanda Mines, Petroleum and Gas Board, RMB.
This was said by Dushimimana Narcisse when he spoke to Radio Rwanda, explaining the role of the mining sector in the development of the country.
Dushimimana said that there are many minerals in Rwanda of various types as bew minerals are being discovered, including Lithium.
Dushimana added that the increase in mineral production is due to the increasing investment in equipment and knowledge.
“As schools come, more experts in this field increase, people have access to modern equipment, and people invest, you immediately see a change. That’s what made us go from $370 million in 2015 to $1 billion,” Dushimana Narcisse said.
He said in terms of investment, many industries have entered this sector, including a gold factory, and one about to start in Coltan, among others.
In the 1930s when Rwandans started mining, they used to find minerals such as Tin (Sn), but they found other minerals like Coltan and threw them away.
It wasn’t until 1998 that they started looking for Coltan, but now they are finding Lithium-type minerals.
Frank Butera, the executive secretary of the Rwanda Mining Association, says that the only thing left is to invest in this sector, especially because there are still obstacles preventing banks from clearly understanding that they should provide loans to miners.
He said, “Mining deserves special credit, investment credit. When you go to financial institutions, you find that the lending method is still traditional, and you find that in order to give you a loan, they ask you for a mortgage.”
Rwanda has developed in mining. In 2015, the value of mineral production exported was $370 million, while last year, in 2023, it ended at $1 billion.