Rwanda’s mineral export revenue has increased from 772 million dollars to more than 1.1 billion dollars, This portrays the Government of Rwanda is a step close to achieving the 1.5 billion dollars target of annual mineral export revenues by 2024. A report published by the Rwanda Mining and Gas Board (RMB) on February 15, 2024, showed that the above growth recorded in 2022 and 2023 represented a 43% growth.
Rwanda’s mineral export revenue in 2023 increased to more than 1.1 billion dollars , up from the 772 million dollars recorded in 2022. This represents a growth of 43 percent, according to the mining board. This is a step closer to achieving the government’s target of generating 1.5 billion in annual mineral export revenues by 2024. According to Rwanda Mines, Petroleum and Gas Board (RMB), the growth is attributed to increased value addition, continued professionalism, greater investment in mechanization and the strategic implementation of sustainable and responsible mining practices.
“most of the gold is exported via Dubai because Dubai is said to be a trading hub for gold but we have other destinations for other commodities like 3Ts, coltan and tin because we are processing tin”.
Ivan Twagirashema, Deputy CEO of the Rwanda Mines, Petroleum and Gas Board – Rwanda
Mineral export earnings for the fourth quarter of 2023 (October to December) reached 252.99 million dollars, marking a 34.9 percent increase compared to the same quarter in 2022. Some of the outstanding minerals that pushed the exports include gold, of which 1,015 kilograms generated 62.1 million dollars in October, 823 kilograms worth 52.9 million dollars in November, and 1,320 kilograms worth 87.5 million in December 2023.
“China is the main destination for raw materials, for example for lithium oil, vermiculite or diatomite ospodomena . I think the majority of lithium oil is exported to china”
Ivan Twagirashema, Deputy CEO of the Rwanda Mines, Petroleum and Gas Board – Rwanda
Communities hosting mining activities have also benefited from infrastructure and various other projects worth Rwf2 billion distributed through revenue-sharing schemes.The money was spent between 2019 and 2023 on projects such as water and electricity supply, medical facilities, and roads.