Trinity Metals plans to tap lithium potential, scale mineral production

Trinity Metals Group, one of the leading mineral processing and trading companies, has laid out plans to tap into lithium, a precious metal whose global demand has significantly increased as the adoption of electric vehicles accelerates and transition towards green energy takes shape. ALSO READ: Could lithium be Rwanda’s next big deal? The company, which currently operates three mines nationwide, has initiated lithium exploration at one of its licensed sites, where preliminary assessments indicate promising deposit potential. Peter Geleta, the Trinity Metals Group Chief Executive Officer, told The New Times that drilling works kicked off a little over a year ago, showing promising results. ALSO READ: Trinity Metals plans $100m investment in Rwanda mineral operations “At the end of 2024 we completed a 15-month, 11-hole drilling programme, whereby we became the first mining company in Rwanda to drill below 300 meters when we drilled down to 780 meters,” he said in an emailed response. “The drill results were very encouraging, indicating that we potentially have a world class lithium deposit.” He revealed that the company has already spent over $4 million (approximately Rwf5 billion) on this drilling programme, suggesting that the next phase of drilling and potentially a feasibility study will cost up to $20 million (about Rwf29bn). “This kind of investment will need to be prioritised relative to the other quicker return investments,” Geleta said of Trinity Metals’ long-term expansion and diversification plan, which includes expanding operations, investing in new processing facilities, and reskilling employees. There is a strong investment case behind Trinity’s lithium exploration strategy. Beyond lithium’s established role in powering everyday devices, from remote car locks and cameras to calculators, thermometers, watches, and laser pointers, its strategic value is rising sharply as demand accelerates across emerging high-growth sectors. Lithium global demand soared at 29.4 per cent annually between 2021 and 2024, far higher than any other energy-transition minerals, according to a May 2025 report by the International Energy Agency (IEA). This growth, which is 4-6 times higher than that of copper, nickel, cobalt, graphite and other rare earth metals, was driven mainly by EV battery production, grid-scale energy storage systems, and growth in consumer electronics. Due to this potential, countries around the globe, especially Australia, Brazil, China, Portugal, and Zimbabwe, that are considered leading lithium producers, have been racing to increase their supply capacities. Rwanda, on the other hand, has been positioning itself to attract investors into extraction and processing of this metal. Early exploration work identified a number of areas where lithium is highly concentrated. Gatumba, in Ngororero District, and Kabacuzi, in Muhanga District, are one of the top places where there are high concentrations of lithium metals. Lithium potential deposits were also identified in Karongi, Nyanza, Rulindo and Rwamagana districts. Rwamagana is particularly home to Trinity Metals Musha concession for which the firm sees higher prospects. Trinity’s business plan Lithium exploration is part of Trinity’s plan to tap into new mineral processing activities and scale its operation. At the heart of this plan is a $100 million (approximately Rwf145 billion) investment the firm targets to raise to invest in these activities. According to the chief executive, the company’s strategy centers on boosting mining output by extending existing operations through new decline developments and accessing deeper ore reserves, continuing the mechanization of operations, and improving mineral processing capability across the three mines. “Of the $100 million investment required to implement these plans, we are able to fund half of this from cash flows that will be generated from existing operations, the remainder of which will need to be funded through new capital injection,” he noted. “Trinity is in ongoing discussions with potential new investors and we are hoping to secure this investment in 2026.” The U.S. International Development Finance Corporation (DFC) is among the key investors Trinity Metals is courting, with the agency currently weighing an equity commitment of between $30 million and $50 million. The consideration follows a $3.85 million technical assistance grant DFC awarded mid last year to help the company prepare for potential future equity financing. “The process of an equity application has commenced, and it is uncertain how long this process will take or whether Trinity will be successful,” Geleta disclosed. ALSO READ: Govt to provide incentives to mining exploration companies In any case, Trinity is one of the winners of the ongoing race between the U.S. and China to control the global supply of critical minerals, which has been largely dominated by China for years. “It is clear that there is a desire from the US and West to break this dominate supply chain,” Geleta said, arguing that Rwanda and Trinity Metals have an opportunity to be a major supplier of critical minerals to the US and Western World. “Given Rwanda and Trinity's potential mining growth in a stable jurisdiction with visionary leadership presents a unique value proposition for investment from the US and the West.” Trinity operates Rwanda’s two largest tin mines, Rutongo and Musha, alongside Nyakabingo, the continent’s most significant tungsten deposit. Yet the company faces a substantial challenge as it seeks to modernise its mineral-processing capabilities. ALSO READ: Critical minerals take centre stage at Rwanda Mining Week 2025 Today, recovery rates remain stubbornly low. Tungsten ore yields hover around 40 per cent, meaning considerable value is being lost at the very stage of the supply chain where efficiencies should be maximised. As the chief executive explained, the current workflow is still largely manual. “Currently we drill and blast, we then handpick the ore and extract the nuggets which are high grade, these are crushed into concentrate for sale, the rest of the material is transported out of the working areas, stockpiled and then put through a manual panning and sluicing process which gives you very low recoveries,” he said. “Once we have a proper modern Process Plant, material will be put through a crushing, sorting and processing facility that will get our recoveries up to 75%.” For now, Trinity Metals, and the broader mining industry, has an opportunity to stake a claim at the top end of the value chain. If successful, the shift could significantly enhance the country’s mineral export revenues.

News

Trinity Metals plans to tap lithium potential, scale mineral production