24 February 2014

Rwanda Minerals Sector Grows

Kigali — Rwanda has been listed among the 20 countries with an abundance of minerals in sub-Saharan Africa.

According to 'Data Mining in Africa Country Investment Guide 2014', 'Such minerals bring in more income to the country if exported'.

The report shows that Rwanda has plenty of untapped mineral wealth and could earn considerable revenue by developing gthis sector.

Latest figures provided by the government state that the country earned $196.3 million during the first three quarters of 2013.

This report that was complied by Singapore based research body Global Reports and was featured during the annual conference on African Mining which took place in early February 2013 in Cape Town, South Africa.

This report states that growth in mineral exports was due to an increase in Coltan exports of 161% and that of Wolfram which was at 7 per cent. Cassiterite exports rose by 13%.Cassiterite is used in making tin. It was and still is used for making tin cans for food storage. It is also used in polishing compounds.

Wolfram or tunsgsten is vital for incandescent light bulb filaments, X-ray tubes and superalloys.

According to the report, 'Coltan benefitted from an increase in price per kilogramme which contributed to an overall increase of its value to $121.3million'.

Wolfram contributed a 7.4 per cent hence brought in $24million whereas Cassiterite brought in $50.5 million because of a value increase of 13% and therefore a 9.7 increase in price per kg. To date, Rwanda has three minerals which are predominantly mined and traded in the country, these being Cassiterite, Woltramite, Colombo- tantalite and some gold.

This report indicated that the government had set different strategies which can help bring in more international investors and help it develop the sector.

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