Rwanda targets Sh4.5 billion from mining concessions

Rwanda has signed mining contracts with six companies to exploit 10 mining concessions that will earn the central African country up to $45 million (Sh4.5b) in five years, as part of a privatisation drive.

Mining, which the government says contributes 1.5 per cent of its $7.9 billion gross domestic product, is Rwanda's second-biggest foreign income earner after tourism, with metallic ore coltan bringing in the most money.

Annually for five years from 2017, Rwanda expects to produce 3,200 tonnes of mixed tantalum, tin and tungsten ores from the concessions, or around 30 per cent of total production, Evode Imena, state minister for mining, told a news conference.

"For the whole country, (last year) the mining revenues were at around $216 million and for these six companies coming for the next five years they will be producing around $40 million to 45 million, which is considerable," Imena said. –Reuters