Moise M. Bahati<\/b><\/p>\n
Africa-Press – Rwanda. <\/strong><\/span>Rwanda\u2019s mineral export earnings reached $609 million (over Rwf716 billion) in the first six months of 2023, according to the regulator of the country\u2019s mining sector.<\/p>\n Mineral export revenues have increased from $71 million in 2010 to over $772 million in 2022. The government targets $1.5 billion in annual mineral export revenues by 2024.<\/p>\n Revenues from minerals exports in the second quarter of 2023 were $362 million, up from $247 million in the first quarter, according to Rwanda Mining, Petroleum and Gas Board (RMB).<\/p>\n \u201cIf this upward trend continues, the mining sector is poised to achieve the [2024] target of $ 1.5 billion,\u201d the RMB said in a statement sent to The New Times.<\/p>\n Investments in mineral processing, value addition, an increasing number of professional miners, and mineral diversification have been the leading factors to the rise in revenues.<\/p>\n \u201cMiners are using mechanization as the use of artisanal tools is gradually phasing out,\u201d the statement said.<\/p>\n In addition to gold, cassiterite, wolfram and coltan, Rwanda looks to increasing exports of other minerals such as amblygonite, lithium, and beryllium.<\/p>\n According to the Rwanda Development Board (RDB), there are 22 tonnes of gold reserves and 110 million tonnes of rare earth minerals, such as lithium, beryllium, uranium, and iron ore.<\/p>\n The export of about 4.7 tonnes of gold alone raked in over $302.6 million between April and June 2023.<\/p>\n The country exported more than 1,144 tonnes of cassiterite, valued at over $18.8 million (approximately Rwf22 billion), during the same period.<\/p>\n Coltan exports, amounting to 254 tonnes, generated $27.8 million (around Rwf32.6 billion), while over 635 tonnes of wolfram yielded $8.4 million (around Rwf10 billion).<\/p>\n Other minerals, weighing 4,267 tonnes, contributed more than $4.5 million (over Rwf5.3 billion) to the overall mineral export revenue.<\/p>\n The rise in export earnings was also slightly due to increased prices, observed Frank Butera, the executive secretary of Rwanda Mining Association.<\/p>\n To maintain the increase in mineral export revenues, Butera said a conducive working environment is paramount by putting in place laws and regulations that enables doing business.<\/p>\n He said the government should facilitate miners to have access to finance, and enhance mechanisation of the mining sector.<\/p>\n Yamina Karitanyi, RMB\u2019s chief executive said in March that merging small mining operators could be a key factor in turning them into financially capable groups and enable the sector to increase production.<\/p>\n For More News And Analysis About Rwanda<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" Moise M. Bahati Africa-Press – Rwanda. Rwanda\u2019s mineral export earnings reached $609 million (over Rwf716 billion) in the first six months of 2023, according to the regulator of the country\u2019s mining sector. Mineral export revenues have increased from $71 million in 2010 to over $772 million in 2022. The government targets $1.5 billion in annual […]<\/p>\n","protected":false},"author":84,"featured_media":48645,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[760,763,758],"class_list":["post-48646","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-rwanda","tag-rwanda"],"yoast_head":"\n