Rwanda to issue 50 new licenses in Mining Industry

The Development board of Rwanda has announced that it will issue 50 new licenses to mine metals such as gold, tin and tantalum this year to help boost investment by a 5th.

They are hoping to attract at least 2 billion US Dollars of investment in 2018 in comparison to 1. 67 Billion last year.  The Chief Executive Officer was interviewed and confirmed that they were seeking the surplus capital for a new innovation centre as well as a project in the Kivu Belt to boost tourism.  The innovation centre will be used to attract companies such as IBM Corp, Ericsson AB and Alphabet Inc. The Kivu belt will be developed to increase tourist activities to the region famed for its Gorillas, by 10%.

The government of Rwanda, would also like funds to complete the building of then Bugesera International Aiport. This is being built in the south of Rwanda. The project will cost 700 million dollars and the first phase is expected to be finalised in December 2019.  They airport will include a 1. 7 million- passenger terminal and would be one of the more modern airports on the continent

Most of the licenses will be issued for tantalum, coltan, tin and wolfram with some concessions for gold. Rwanda has 90 percent of the worlds coltan reserves so makes it an ideal processor. With the rise of the demand for electronic goods, global demand for tantalum is at an all time high. Tantalum is a mineral that is extracted from Coltan and is used primarily for the production of tantalum capacitors. These capacitors are used in almost every electronic device. Tantalum can also be used for refractive lenses for glasses, cameras and printers.

In the last ten years, investments in Rwanda have increased exponentially from 800 Million USD in 2007, to 1.675 Billion USD in 2017. More than a 100% increase in only a decade.  This is a key indicator that Rwanda is seen as a great place to do business.  A far cry from the war-torn country it was in the 90’s.

The new mining business will open up opportunities for many expat and local workers to contract in these fields. Should you be interested in applying for an investor permit in Rwanda or would like to employ expat and local workers, please contact us on u2us@uniglo-financial.com.