A survey by New Resolution Geophysics (NRG), a South African company has revealed that Rwanda’s mineral potential is set for a boost with new mineral deposits being identified in many parts of the country.
The mineral prospective report indicates a total of 21 new target areas with potential across the country.
However, the countrywide aerial survey to acquire new data for further understanding of possible mineral potential did not attempt to identify new minerals. It concentrated on already existing minerals such as Coltan, wolfram, cassittelite and gold.
The results of the survey were presented by Paterson, Grant and Watson limited a Canadian firm.
Christopher Bazivamo, the Minister of Forestry and Mines said that government will continuously accumulate all key data to improve the prospectivity of the country.
“One of the cardinal points of our new policy is to increase the level of geological knowledge of the country,” said Bazivamo.
Rwanda has also embarked on the process of privatising its mining industry and by now almost 100 percent of former government concessions have been sold.
Bazivamo explained that the 21 highly prospective target areas will be good news to the country and prospective investors after they have been verified.
The mineral sector has been one Rwanda’s highest foreign exchange earner over the past several years.
In 2008, mineral exports fetched $94 million while in the previous year it had earned $70 million and this year it is projected that it will bring in $100 million.
The sector earns more than both coffee and tea combined and by the year 2020, the government aims to earn over US$240 million and create 50,000 professionals in the sector.
With increased investment, the industry has seen 170 permits with 12-13 international investors registered.