- Rwanda partners with Rio Tinto to explore and develop lithium and other minerals, aiming to boost the mining sector.
- The partnership aligns with Rwanda’s goal to make mining a key driver of economic growth and supports the global green energy transition.
- Rwanda’s mining sector saw a 45.6% increase in export revenues from January to September 2023, reaching $851.6 million.
Rwanda has strategically partnered with Rio Tinto Minerals Development Limited to explore and develop lithium and other minerals, aiming to boost the country’s mining sector.
Rio Tinto Group, a major British-Australian multinational, brings mineral exploration and development expertise. The agreement follows meetings between Rio Tinto executives and President Paul Kagame. Critical discussions occurred at the January 2024 World Economic Forum in Davos with Rio Tinto CEO Jakob Stausholm and in July 2023 with Chairman Dominic Barton.
The Rwanda Development Board (RDB) views the partnership as crucial in unlocking the country’s $150 billion mining potential. “This collaboration enhances Rwanda’s position in the global mining industry,” said Francis Gatare, RDB chief executive.
The partnership aligns with Rwanda’s goal of making the mining sector a key driver of economic growth and supporting the global green energy transition. Rwanda’s mining sector currently contributes about 3% to the country’s GDP and employs over 72,000 people.
“We look forward to working with the Government of Rwanda to explore the country’s geological potential,” said Dave Andrews, Head of Rio Tinto Exploration.
The initial focus involves regional exploration using advanced technologies and modern methods. This approach ensures high-quality data collection and interpretation, including geological, geochemical, and geophysical techniques.
Francis Kamanzi, the Rwanda Mines, Petroleum, and Gas Board’s chief executive, praised the partnership. “This collaboration will blend local expertise with Rio Tinto’s global experience, advancing Rwanda’s mining industry,” he said.
In 2023, Rwanda launched a three-year exploration campaign to modernise its mining sector. The strategy covers mineral extraction, beneficiation, value addition, and trading.
From January to September 2023, Rwanda’s mining sector generated $851.6 million in export revenues. This figure represents a 45.6% increase from the $584.8 million recorded during the same period in 2022.
The partnership with Rio Tinto aims to enhance Rwanda’s mining capabilities further. It positions Rwanda as a significant player in the global mining industry and contributes to its sustainable economic development.