Rwanda’s Mining Sector Output Grew 20% In 2008 – IEPA
Last update: 5:44 a.m. EST Jan. 5, 2009
Jan 05, 2009 (Dow Jones Commodities News via Comtex) — DOW JONES NEWSWIRES
Rwanda’s mining sector output grew 20% in 2008 from the year earlier due
to increased export volumes of tungsten, cassiterite and coltan, the
country’s three leading minerals, the country’s Investment and Export
Promotion Agency said Monday.
By the end of October 2008, mineral export revenues increased to $89
million compared with $71.5 million for the whole of 2007.
“Although the mining sector is still largely artisan, based on the
export figures as of October, the revenues will hit more than $100
million in 2008,” IEPA said, adding that the mining sector is poised to
overtake coffee, tea and tourism as the country’s top revenue earner By
In 2007, mineral exports accounted for 40% of the country’s total export
revenue earnings, IEPA said. However, the report didn’t state the
quantities of minerals exported.
Rwanda now aims to increase annual mineral export revenues to $200
million by 2010 by attracting higher investment, modernizing mining
methods and expanding exploration. As a long term-measure, the country
also expects to attract more investments in mineral processing.
Rwanda has no large-scale mining industry and aid agencies say a large
part of the minerals are smuggled into the country from Congo’s
mineral-rich North Kivu province which has strong social and economic
links with the tiny.
-By Nicholas Bariyo, contributing to Dow Jones Newswires
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