{"id":116911,"date":"2025-12-07T16:42:32","date_gmt":"2025-12-07T16:42:32","guid":{"rendered":"https:\/\/www.africa-press.net\/rwanda\/all-news\/us-development-finance-considers-equity-stake-in-trinity-metals"},"modified":"2025-12-07T16:57:06","modified_gmt":"2025-12-07T16:57:06","slug":"us-development-finance-considers-equity-stake-in-trinity-metals","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/rwanda\/economy\/us-development-finance-considers-equity-stake-in-trinity-metals","title":{"rendered":"US Development Finance Considers Equity Stake in Trinity Metals"},"content":{"rendered":"

Africa-Press – Rwanda. <\/strong><\/span>A Rwanda-based American firm, Trinity Metals, is positioning itself for a potential $30\u201350 million equity investment from the US International Development Finance Corporation (DFC) as Washington seeks to secure reliable supplies of critical minerals vital for industry and clean energy technologies, according to the firm.<\/p>\n

This prospective investment follows a $7.7 million technical assistance programme launched in June 2024. The programme is funded equally by the DFC and Trinity Metals, each contributing U$3.86 million, and runs for 24 months. It marks the first time the DFC has issued a technical assistance grant for a mining project in Africa.<\/p>\n

Why the US is interested<\/p>\n

During a media tour of Trinity\u2019s Nyakabingo Mine in Rulindo District, on December 4, the Chief Operating Officer, Shane Ryan, explained that the U.S. is seeking to secure diversified supply of critical minerals.<\/p>\n

\u201cThe interest for America to be involved in places like Trinity is to secure a supply of critical minerals into America. It’s as simple as that,\u201d he said.<\/p>\n

\u201cThey want to make sure that they’re not constrained by China.\u201d<\/p>\n

Shane Ryan, Chief Operating Officer at Trinity, speaks to journalists during a media tour at the Nyakabingo Mining site on December 4. Photos by Craish Bahizi.<\/p>\n

According to Ryan, Trinity Metals plans to invest around $100 million in expanding and modernising its mineral processing operations in Rwanda, specifically for tin (cassiterite), tungsten (wolframite), and tantalum (coltan) \u2014 by 2027.<\/p>\n

Prospective DFC Equity Investment<\/p>\n

Ryan said that the DFC is conducting due diligence on Trinity\u2019s operations as it considers investment in the firm.<\/p>\n

\u201cAnd we will then negotiate with them as to whether they buy into Trinity. But it’s anything from $30 million to $50 million investment into Trinity from the DFC,\u201d he said.<\/p>\n

\u201cI couldn’t possibly put a time frame on when that investment might happen. But it’s certainly being looked at, at the moment.\u201d<\/p>\n

Minerals of interest<\/p>\n

Trinity Metals produces tin (cassiterite) and tungsten (wolframite). Tungsten from Nyakabingo Mine which is considered the largest producer of such mineral in Africa is exported to Austria and the United States, although most of the output currently goes to Austria, according to Ryan.<\/p>\n

The first-ever direct tungsten shipment from Rwanda to the United States was delivered on September 30.<\/p>\n

The US\u2019 interest spans all of Trinity\u2019s critical mineral assets, including tantalum resources that are not yet in production at Musha Mine and \u201csizable\u201d lithium deposit at the site.<\/p>\n

Lithium is a key component in lithium-ion batteries which power electric vehicles (EVs), consumer electronics, renewable energy storage systems, and grid-stabilisation technologies.<\/p>\n

The volume of minerals that may eventually be supplied to the US could be determined in future negotiations.<\/p>\n

Across three mines it operates \u2014 Nyakabingo, Rutongo, and Musha \u2014 Trinity Metals employs more than 6,500 people, 99 per cent of whom are Rwandans.<\/p>\n

Marie Divine Bazubagira, a worker at Nyakabingo Mine, said: \u201cI earn between Rwf150,000 and Rwf200,000 per month,\u201d indicating that the work enables her to meet her family\u2019s basic needs and pay fees for her children\u2019s tuition.<\/p>\n

Workers operate mineral testing equipment at a mining facility, preparing samples and monitoring analysis results on December 4. (2)<\/p>\n

At the mine, Bazubagira\u2019s main task is sorting minerals, or panning.<\/p>\n

She indicated that income varies depending on production, estimating that one kilogram of minerals yields more than Rwf2,000 net. On a single day, a worker may produce between three and six kilogrammes, she added.<\/p>\n

The TA funding support<\/p>\n

The Technical Assistance programme focuses on strengthening environmental, social and governance standards across Trinity\u2019s operations.<\/p>\n

Trinity has matched the U.S. funding to support community engagement improvements, enhanced environmental protections and upgraded safety standards.<\/p>\n

Journalists from various media houses pose with Trinity staff during a media tour at the Nyakabingo Mining site on December 4. Photos by Craish Bahizi.<\/p>\n

Key initiatives under the programme include comprehensive baseline studies to support updated Environmental and Social Impact Assessments across all Trinity mines, a company-wide employee skills development programme, and the implementation of ISO-compliant Safety, Health, Environment and Community (SHEC) Management System.<\/p>\n

The money also supports integrated development planning for all mining concessions, as well as rehabilitation planning for legacy tailings (mining wastes or byproducts) and river systems. These efforts form a central part of Trinity\u2019s transformation agenda to become a leading African producer of critical minerals.<\/p>\n\r\n