Rwanda seeks increased investments in mining industry to boost exports

Source: Xinhua| 2018-10-16 23:31:00|Editor: Mu Xuequan
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KIGALI, Oct. 16 (Xinhua) -- Rwanda is looking for more investors in the mining industry to boost the country's mineral exports and increase revenues from mineral resources, head of the state mining development body said Tuesday.

Rwanda, being among the fastest growing economies in Africa, has a great opportunity of using its mineral resources to drive its industrialization, diversification and overall economic transformation, Francis Gatare, chief executive officer of Rwanda Mines, Petroleum and Gas Board (RMB), said during the 59th Annual General Assembly of the Tantalum-Niobium that opened formally on Tuesday in Rwandan capital Kigali.

Rwanda's mining sector presents different investment opportunities including mineral exploration, mining, value addition and industrial training, said Gatare.

The small central African country aims to generate 800 million U.S. dollars by 2020 and 1.5 billion dollars by 2024 from mineral export revenues, he added.

The three-day meeting attracted more than 150 experts in the tantalum and niobium industry supply chain from over 25 countries across the world.

The annual general assembly will highlight technical sessions, a visit to a working artisanal tantalite mine, and site seeing tours in Rwanda.

The meeting will explore a wide range of issues affecting in tantalum and niobium technological development and consumption.

Rwanda is among top producers of tantalum ore, producing more than 60 percent of the needed quantity onto the global market, according to RMB.

Tantalum production in Rwanda is expected to exceed 2,500 tons in 2018, according to the board.

Over 2,000 tons of tantalum ore were produced and exported for the period of July 2017 to June 2018, it said.