Rwanda normalized a “strategic partnership” with Rio Tinto Minerals Development Limited centralizing on bolstering the Exploration and Mining of Lithium and other Associated Mineral Deposits

By Abdul Rahman Bangura-

Photo Credit: Unsplash

NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- Rio Tinto Group, a British-Australian multinational company is one of the leading mineral exploration and development firms.

The outgrowth pursues prefatory sessions between the corporation executives and President Paul Kagame, incorporating one during the January World Economic Forum 2024 in Davos with Jakob Stausholm, the company’s Chief Executive Officer.

President Kagame alike met with Dominic Barton – Chairman of Rio Tinto, to talk about strategic cooperation in July 2023. According to the Rwanda Development Board (RDB), the consensus illustrates an important measure onward in progressing the country’s $150 billion- potential mining sector and supporting its sustainable economic development.

“This collaboration elevates Rwanda’s standing in the global mining industry and promises substantial economic and technological advancements for our country,” Francis Gatare, RDB chief executive said following the signing.

The goal, officials said, aims to align with Rwanda’s strategic objectives to develop its mining sector as a key driver of economic growth, but also presents an opportunity to contribute to the global green energy transition.

Rwanda’s mining sector currently contributes about 3 per cent to the country’s economic output and employs more than 72,000.

“We are looking forward to working with the Government of Rwanda to explore the geological potential of the country,” said Dave Andrews, Head of Rio Tinto Exploration.

Under the pact, the ambition will originally concentrate on the early stages of regional exploration, using creative technologies and modern procedures.

It also aims to ensure high-quality data collection and interpretation by integrating advanced geological, geochemical, and geophysical techniques.

“With this remarkable partnership, we look forward to blending our local expertise in mining with Rio Tinto’s global experience to leverage our mineral resources potential and enhance our geological capabilities,” regurgitated.

Francis Kamanzi – Chief Executive at Rwanda Mines, Petroleum and Gas Board, characterized the partnership as “remarkable,” saying that they were glancing to influence Rio Tinto’s global experience to acknowledge the country’s mining prospect.

“We are confident this will advance Rwanda’s mining industry, making it a major economic enabler and contributor to sustainable development,” he remarked.

In 2023, Rwanda launched a three-year exploration campaign as part of the efforts to modernize the mining sector.

The strategy aligns with other key locales, containing mineral extraction and beneficiation, mineral value addition, and mineral trading.

Rwanda’s mining sector developed $851.6 million (approximately Rwf1 trillion) in export revenues from January to September 2023, depicting a boost of 45.6% approximated to $584.8 million videoed during the exact duration in 2022.

For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent