A Rwanda-based American firm, Trinity Metals, is positioning itself for a potential $30–50 million equity investment from the US International Development Finance Corporation (DFC) as Washington seeks to secure reliable supplies of critical minerals vital for industry and clean energy technologies, according to the firm. ALSO READ: Critical minerals take centre stage at Rwanda Mining Week 2025 This prospective investment follows a $7.7 million technical assistance programme launched in June 2024. The programme is funded equally by the DFC and Trinity Metals, each contributing U$3.86 million, and runs for 24 months. It marks the first time the DFC has issued a technical assistance grant for a mining project in Africa. Why the US is interested During a media tour of Trinity’s Nyakabingo Mine in Rulindo District, on December 4, the Chief Operating Officer, Shane Ryan, explained that the U.S. is seeking to secure diversified supply of critical minerals. “The interest for America to be involved in places like Trinity is to secure a supply of critical minerals into America. It's as simple as that,” he said. “They want to make sure that they're not constrained by China.” According to Ryan, Trinity Metals plans to invest around $100 million in expanding and modernising its mineral processing operations in Rwanda, specifically for tin (cassiterite), tungsten (wolframite), and tantalum (coltan) — by 2027. Prospective DFC Equity Investment Ryan said that the DFC is conducting due diligence on Trinity’s operations as it considers investment in the firm. “And we will then negotiate with them as to whether they buy into Trinity. But it's anything from $30 million to $50 million investment into Trinity from the DFC,” he said. “I couldn't possibly put a time frame on when that investment might happen. But it's certainly being looked at, at the moment.” Minerals of interest Trinity Metals produces tin (cassiterite) and tungsten (wolframite). Tungsten from Nyakabingo Mine which is considered the largest producer of such mineral in Africa is exported to Austria and the United States, although most of the output currently goes to Austria, according to Ryan. The first-ever direct tungsten shipment from Rwanda to the United States was delivered on September 30. ALSO READ: In a first, Rwandan mining company supplies tungsten to US The US’ interest spans all of Trinity’s critical mineral assets, including tantalum resources that are not yet in production at Musha Mine and “sizable” lithium deposit at the site. Lithium is a key component in lithium-ion batteries which power electric vehicles (EVs), consumer electronics, renewable energy storage systems, and grid-stabilisation technologies. The volume of minerals that may eventually be supplied to the US could be determined in future negotiations. ALSO READ: Rwandan company seals historic deal to supply Tungsten to the US Across three mines it operates — Nyakabingo, Rutongo, and Musha — Trinity Metals employs more than 6,500 people, 99 per cent of whom are Rwandans. Marie Divine Bazubagira, a worker at Nyakabingo Mine, said: “I earn between Rwf150,000 and Rwf200,000 per month,” indicating that the work enables her to meet her family’s basic needs and pay fees for her children’s tuition. At the mine, Bazubagira’s main task is sorting minerals, or panning. She indicated that income varies depending on production, estimating that one kilogram of minerals yields more than Rwf2,000 net. On a single day, a worker may produce between three and six kilogrammes, she added. ALSO READ: Trinity Metals secures $3.8 million funding from DFC The TA funding support The Technical Assistance programme focuses on strengthening environmental, social and governance standards across Trinity’s operations. Trinity has matched the U.S. funding to support community engagement improvements, enhanced environmental protections and upgraded safety standards. Key initiatives under the programme include comprehensive baseline studies to support updated Environmental and Social Impact Assessments across all Trinity mines, a company-wide employee skills development programme, and the implementation of ISO-compliant Safety, Health, Environment and Community (SHEC) Management System. The money also supports integrated development planning for all mining concessions, as well as rehabilitation planning for legacy tailings (mining wastes or byproducts) and river systems. These efforts form a central part of Trinity’s transformation agenda to become a leading African producer of critical minerals.
