Rwanda has said that it has formalised a "strategic partnership" with Rio Tinto Minerals Development Limited that will focus on the early stages of the exploration and mining of lithium and other associated mineral deposits in the country.
Rio Tinto Group, a British-Australian multinational company, is one of the leading mineral exploration and development firm.
The development follows prior meetings between the company executives and President Paul Kagame, including one during the January World Economic Forum 2024 in Davos with Jakob Stausholm, the company's CEO.
President Kagame also met with Dominic Barton, Chairman of Rio Tinto, to discuss strategic partnerships in July 2023.
According to the Rwanda Development Board (RDB), the agreement represents a significant step forward in advancing the country's $150 billion- potential mining sector and supporting its sustainable economic development.
"This collaboration elevates Rwanda's standing in the global mining industry and promises substantial economic and technological advancements for our country," Francis Gatare, RDB chief executive said following the signing.
The goal, officials said, aims to align with Rwanda's strategic objectives to develop its mining sector as a key driver of economic growth, but also presents an opportunity to contribute to the global green energy transition.
Rwanda's mining sector currently contributes about 3 per cent to the country's economic output and employs more than 72,000.
Sign up for free AllAfrica Newsletters
Get the latest in African news delivered straight to your inbox
"We are looking forward to working with the Government of Rwanda to explore the geological potential of the country," said Dave Andrews, Head of Rio Tinto Exploration.
Under the agreement, the initiative will initially focus on the early stages of regional exploration, utilizing innovative technologies and modern exploration methodologies.
It also aims to ensure high-quality data collection and interpretation by integrating advanced geological, geochemical, and geophysical techniques.
"With this remarkable partnership, we look forward to blending our local expertise in mining with Rio Tinto's global experience to leverage our mineral resources potential and enhance our geological capabilities," reiterated
Francis Kamanzi, chief executive at Rwanda Mines, Petroleum and Gas Board, described the partnership as "remarkable," saying that they were looking to leverage Rio Tinto's global experience to realise the country's mining potential.
"We are confident this will advance Rwanda's mining industry, making it a major economic enabler and contributor to sustainable development," he noted.
In 2023, Rwanda launched a three-year exploration campaign as part of the efforts to modernise the mining sector.
The strategy aligns with other key areas, including mineral extraction and beneficiation, mineral value addition, and mineral trading.
The country's mining sector generated $851.6 million (approximately Rwf1 trillion) in export revenues from January to September 2023, representing an increase of 45.6 per cent compared to $584.8 million recorded during the same period in 2022.
