In 2024, Rwanda continued to work on positioning itself as a potential player in the global digital transformation, making progress in lithium exploration, a mineral essential for energy storage and electronics. Rwanda’s lithium ambitions gained momentum through a partnership with global mining giant Rio Tinto, which is now working to expand its exploration efforts in the country. Meanwhile, in the same industry, new targets were announced to fetch more revenue from mineral exports, while on a challenging note, problems like illegal mining and exporting activities persisted, causing disruptions in especially beryllium exportation. ALSO READ: Mining: Rwanda looks to steel, glass making for growth In this article, The New Times highlights the major developments that shaped Rwanda’s mining industry in 2024. 1. Strengthening lithium exploration: A new deal with Rio Tinto In October, Rwanda signed an agreement with Rio Tinto, solidifying its lithium exploration efforts. The deal followed the initial 2023 partnership between Rio Tinto (RTX), the Government of Rwanda, Kinunga Mining Ltd (a local company), and Aterian PLC, a British exploration firm. The partnership with Rio Tinto was approved during a cabinet meeting in October, granting an additional two years for exploration. ALSO READ: Rwanda eyes $2bn in annual mineral export earnings by 2029 In an interview with The New Times, Charles Bray, Executive Chairman of Aterian PLC said he is optimistic about Rwanda’s untapped mineral potential and pointed to the country’s numerous pegmatites which indicate significant opportunities for lithium discoveries. “Considering the large number of pegmatites supporting ASM (Artisanal and Small-Scale Mining) of Coltan and Cassiterite which litter Rwanda, there is a tremendous amount of potential for large lithium discoveries,” Bray noted. 2. Challenges in beryllium exports Beryllium exportation faced a four-month suspension starting in August due to illegal mining activities. The government imposed the ban to streamline the sector, ensuring compliance with regulations. In November, the Rwanda Mines, Petroleum, and Gas Board (RMB) lifted the embargo, following inspections and due diligence assessments across mining sites and exporter facilities. “All mineral exporters are strictly required to adhere to the provided mineral certification and export procedures,” RMB’s statement read, adding that certification would prioritise inspected stock, followed by new production, in compliance with regulations. 3. Steel and glass manufacturing seen as important areas Steel and glass manufacturing, as well as the automotive industries were pointed out as some of the areas of priority that will need locally extracted and processed minerals in the next 10 years. According to Fred Mugabe, the Director General of Industry Promotion and Entrepreneurship Development at the Ministry of Trade and Industry (MINICOM), a new industrial policy to be implemented in the next 10 years has priority sectors on steel, glass manufacturing, and automotive industry, all of which are closely linked to the mining sector. He noted that studies have identified large deposits of iron ore in Rwanda, which are very pivotal and instrumental in driving the steel industry. This is also a priority for metallurgy and light industries associated with the iron ore commodity. ALSO READ: Rwanda resumes beryllium exports He said that glass manufacturing is one of the industries that Rwanda is looking to in the near future. He added that they have found that the country has enough raw materials that can be mined for glass manufacturing. 4. Ambitious revenue targets This year, the government set a target of about $2.2 billion in annual mineral exports by 2029, up from $1.1 billion generated in 2023. Prime Minister Edouard Ngirente, as he presented the five-year National Strategy for Transformation (NST2) to Parliament in September, said such will be achieved through promoting professional mining that is eco-friendly, and investment in local value addition and mineral processing will be encouraged.
