Mineral wealth to improve country’s GDP

The Director of Rwanda Geology and Mines Authority (OGMR), Michael Biryabarema, has said that mineral wealth will improve the country’s economic Gross Domestic Product (GDP). Biryabarema was speaking Saturday during celebrations to mark International Miners’ Day at Serena Hotel. “We have noted that Rwanda as a country possesses a lot of mineral resources, and therefore it should not be called a barren land,” said Biryabarema. He further stressed that Rwanda is rich in mineral ores like cassiterite, gold, wolframite, and monazite among others that are not so common elsewhere with exception of gold. Biryabarema added that the challenges of the economic crisis have been affecting the mining industry like any other sector and added that “soon the country will achieve more from the mining industry”. He encouraged the existing mining companies to invest more in the industry because it’s lucrative. Speaking at the function, Joseph Mpunga from Rwanda Development Board (RDB) noted that the good investment climate in Rwanda enables every business to boost. He said that ‘Rwanda Development Board as a government institution supports any business that promotes economic growth and job creation’ in the country. He further clarified that RDB offers incentives to investors and thus encouraged the players in the mining industry to list the equipment needed and send them to RDB. Yvette Mukarwema, the Director of trade and policy advocacy at the Private Sector Federation (PSF), explained that PSF is currently recruiting foreign trainers to train Rwandans in mining related business, working on capacity building for SME’s in the mining industry and guarantee funds. She said ‘there is no need to worry; through effective advocacy market will be available’. The new Minister for Mines and Forestry, Christophe Bazivamo, said lack of market and data on minerals is going to be handled with urgency. Ends