During the recent visit by Russian Foreign Minister Sergey Lavrov, one of the many areas of discussions was cooperation in mining.

Ten years ago, few believed that Rwanda was awash with several minerals Coltan, Gold, wolfram tin, to name but a few. The widely spread belief was that the country was taking advantage of the chaos in neighbouring Democratic Republic of Congo to loot  their minerals.

It was not until mineral tagging began that the truth was out and hence the influx of investors in the sector. Today mining is the new frontier. Last year it brought in over $370 million, just short of matching the tourism sector, and it is projected to double in the next two years. And that is not all.

To demonstrate that the mining industry is the new Eldorado, by 2024, it is expected to rake in an estimated $1.5 billion. By then it will be the tourism sector’s main competitor.

It is that positive outlook that is pulling investors because they know a winner when they see it. Most of the new entrants into mining will not necessarily put their eggs deep in the belly of the earth; they will be working on the surface.

They will come with new efficient technologies and do away with rudimental ways of exploiting the minerals. But most importantly, they will add value to the mineral ore. Already a foreign company has set up shop to smelt coltan and more are on the way.

So, when Rwanda confidently says that mining will be bringing in over a billion dollars in the next five years, there is no need to be skeptical.