Mineral exports surpassed expectations in 2017 to rake in $373m in 2017 up from $166m in the previous year, according to statistics from the Rwanda Mines, Petroleum and Gas Board indicate.
The sector had initially set a target of $240 million.
The sector exported about 7,000 tonnes of minerals comprising of wolfram, coltan and cassiterite as well as non-traditional minerals.
The performance can be attributed to recovery of commodity prices in the international market as well as improved practices by miners and stakeholders in the sector.
"Last year was a good year for the mining sector worldwide, because of price increases in all commodities,” said Francis Gatare, the CEO of Rwanda Mines, Petroleum and Gas Board.
He noted that there has been increased production in response to the price recovery.
"One of the impacts was due to increased production in response to higher prices, especially for Tantalum, Tin, Tungsten and Gold,” said Gatare, who is also a member of cabinet.
The sector has been undergoing reforms over the last 18 months. The reforms involved reorganisation and re-aggregating the previously fragmented sector to attarct large players.
The process has seen the elimination of middle-men who have had little positive impact on the sector other than make a quick buck for themselves.
Donat Nsengumuremyi, the Director of Mineral Extraction and Processing Unit at Rwanda Mines, Petroleum and Gas Board, said that to improve productivity in the sector, they have had countrywide campaigns on professional mining practices in addition to trimming down illegal mining practices.
"We have set up mines inspections that monitor compliance of mining agreements and the mining standards are communicated to all miners and local governments for frequent follow up,” Nsengumuremyi said.
This, according to experts, has enabled the sector to reduce losses arising from poor mining practices. Some experts put the losses at about 70 per cent.
The improved performance has so far generated about 40,000 jobs and is projected to avail even more jobs this year.
The projections for this year, according to sector players, is now $600m with exports volume of 10,000 tonnes.
Nsengumuremyi disclosed that there is ongoing exploration on 13 mining blocks for different minerals.
Already, there are five packaged and tendered potential mining blocks for investment which are seeking investors, according to officials.
Preliminary ground geophysics and preliminary geological exploration works were conducted in 2017.
Further studies will be conducted by an international exploration company, SRK Exploration Services Limited, which was contracted and is set to commence works in July next month.
The projections are also riding on a recently signed Memorandum of Understanding for Coltan processing, the partnership with a new developer for Karuruma tin smelter (which was previously run by Phoenix metals).
There are also plans that are currently at data packaging stage for glass manufacturing using sand in Kirehe District as well as an ongoing clay quality assessment.
The sector has the goal of increasing mineral export revenues to $800 million by 2020 and $1.5 billion annually by 2024.
The Government had also invested in exploration studies to understand the extent of deposits before bringing the private sector on board when appropriate.
For example, gemstones resources occurrences were identified and mapped and so far an assessment for development, trading, cutting and polishing has been made and is being discussed for financing options.
Currently, Rwanda exports four main types of minerals, including gold, cassiterite, coltan, and wolfram.
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