The Rwanda Mines, Gas, and Petroleum Board (RMB) has revealed that the country’s underground mineral resources are valued at over $150 billion, though research is still ongoing, and these figures remain provisional.
This announcement was made by Ambassador Yamina Karitanyi, the CEO of the Rwanda Mines, Gas, and Petroleum Board, during discussions between the Rwanda Mining Board and the Senate Committee on Economic Development and Finance.
A 2017 aerial survey identified 52 locations across the country with promising mineral deposits. Some of these areas have already undergone trial mining, according to Yvan Twagirashema, the Deputy CEO of RMB.
However, not all of these minerals will be extracted, as some deposits are located in five key protected areas within national parks. Ambassador Karitanyi emphasized that Rwanda will explore alternative ways to generate revenue from these resources without harming the environment.
Mining Sector’s Economic Goals
Rwanda’s mining sector aims to generate $1.5 billion in revenue by 2024.
The RMB leadership expressed confidence in achieving this target, citing last year’s mineral exports, which brought in $772 million. Additionally, in the first six months of this year alone, Rwanda exported minerals worth $609 million.
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