October 23, 2017

Rwanda signs mining deal with Omani-owned Tri Metals

The signing of a five-year mining contract worth $39-million with a unit of Oman’s Mawarid Mining is the tonic which Rwanda’s economy needs.

Mining, which is the second-biggest source of foreign direct exchange behind tourism, contributes about 1.5% of the country’s $7.9-billion gross domestic product. Most of the earnings are brought by metallic ore coltan.

Under the terms of the deal, according to the Rwanda’s mining ministry, Mawarid will extract tin, tantalum and niobium.

The ministry said that it had signed the agreement with Tri Metals Mining – Mawarid’s Rwandan subsidiary – to extract the minerals in the Bisesero Concession in Western Province. Tantalum from coltan is used to make tantalum capacitors used in electronic products.

Edited and adapted from a report filled by Reuters News Agency

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