20 September 2013

Rwanda Signs U.S. $22 Million Mining With Pella Rwanda Resources for Mining Operations in Rwagamana District

Kigali — Yesterday, the government of Rwanda signed a mining concession license with Pella Rwanda Resources Ltd to undertake mining operations in Rwamagana District. The agreement, worth of USD 22 million, will go for a period of five years and permit Pella Rwanda Resources to carry out mining operations to extract mainly Cassiterite (Tin) and possibly Tantalite and Tungsten at Musha and Ntunga concessions located in the Eastern Province.

The State Minister in charge of mining in the Ministry of Natural Resources, Honourable Evode Imena said that the government is committed to supporting investments in the mining sector targeting to increase the sector's production.

"As Rwanda is committed to triple the mineral sector production by 2017, having such an important company investing in the exploration, exploitation and processing of minerals, we believe we are on the right track toward achieving our objectives," he added.

By the fifth year of the license, the company has committed to increase its minimum production levels from 50 tonnes to 120 tonnes per month of refined minerals and social programmes meant to build the capacity of young Rwandans in the mining industry by sponsoring them for formal trainings and education in different fields of the mining sector.

The overall objective of the mining license 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.

Speaking also at the signing of the mining license, Rwanda Development Board's, Ms. Clare Akamanzi, said, "Rwanda has various types of mineral deposits in which we look forward to working with our partners to develop and enable more investments, as well as explore additional opportunities not yet discovered."

The parent company, Pella Resources Limited, is an African focused natural resource and energy group having its headquarters in the United Kingdom and a strong track record in exploration and mine development across eighteen countries in Africa.

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