Rwanda has announced a formalized “strategic partnership” with Rio Tinto Minerals Development Limited aimed at advancing early-stage exploration and mining activities, particularly focusing on lithium and associated mineral deposits.
Rio Tinto Group, a prominent British-Australian multinational in mineral exploration and development, finalized the partnership following discussions between its executives and President Paul Kagame, including meetings at the January 2024 World Economic Forum in Davos with CEO Jakob Stausholm.
President Kagame also engaged with Dominic Barton, Chairman of Rio Tinto, in July 2023 to explore further strategic collaborations.
According to the Rwanda Development Board (RDB), the agreement marks a significant milestone in Rwanda’s efforts to develop its potentially lucrative $150 billion mining sector and bolster sustainable economic growth.
“This collaboration enhances Rwanda’s global standing in mining and promises substantial economic and technological advancements,” said Francis Gatare, CEO of RDB, following the agreement signing.
The initiative aligns with Rwanda’s strategic goals to position mining as a pivotal economic driver and also supports global efforts toward green energy transition.
Rwanda’s mining sector presently contributes about 3% to its economic output and employs over 72,000 individuals.
“We look forward to partnering with the Rwandan government to explore the country’s geological potential,” remarked Dave Andrews, Head of Rio Tinto Exploration.
The partnership’s initial focus will involve regional exploration using innovative technologies and modern methodologies, aiming for high-quality data collection and interpretation through advanced geological, geochemical, and geophysical techniques.
“With this significant partnership, we aim to merge local mining expertise with Rio Tinto’s global experience to optimize our mineral resources and enhance geological capabilities,” emphasized Francis Kamanzi, CEO of Rwanda Mines, Petroleum and Gas Board.
The collaboration underscores Rwanda’s commitment to modernize its mining sector, aligning with strategies that include mineral extraction, beneficiation, value addition, and trading.
In 2023, Rwanda launched a three-year exploration campaign as part of these efforts, with the mining sector generating $851.6 million in export revenues from January to September, up 45.6% from the same period in 2022.
