KIGALI, Rwanda, Dec. 16, 2014 /PRNewswire-USNewswire/ --
Rwanda is now the world's single
largest exporter of tantalum mineral known as coltan and the
government says that is only a small portion of the country's
production capacity.
In 2013, Rwanda exported
2,466,025kgs of tantalum - accounting for 28% of total 8,807,232Kg
of tantalum produced globally. Total revenue from the coltan was
$134.5M.
Minerals were exported despite effects of the US Dodd-Frank Wall
Street Reform and Consumer Protection Act (DFA) that controls the
purchase of minerals sourced from the Democratic Republic of Congo (DRC) and its 11
neighbours, including Rwanda.
Countries subjected to DFA law contributed only 23% of global
tantalum exports.
Statistics from the Rwanda's
central bank or BNR indicate that in 2013 the country earned
$226.2M from minerals.
Evode Imena, State Minister in Charge of Mining said the mining
sector targets $400M from mineral
exports by 2017, creating over 600,000 jobs.
Meanwhile, by October 2014, the
country had exported 1,931,041kgs of tantalum worth $87.4M. The central bank says minerals have
fetched $178.1M in the same
period.
The mining industry celebrated International Mining Day on
December 4 in capital Kigali, under the theme 'Professional Mining
as pillar of growth and sustainable development.'
The earnings have dropped largely due to the fall in global
tantalum prices although volumes are expected to rise by end of
year.
Officials at the Rwanda Development Board (RDB) told KT
Press that government has 22 new projects mainly in
exploration worth $110.5 in
investment commitments since 2011.
Trade minister Francois Kanimba told KT Press that
government is engaging banks to provide loan facilities for miners
to boost exports. "The banks have been waiting for small-scale
miners to have concession contracts and properly conducted
turnover-assessments in order to access loans," he said.
In response to the Dodd-Frank legislation, Rwanda has a Minerals Traceability Program
where all minerals mined there are tagged from the mine-sites until
they are ready to be exported.
Companies sourcing minerals from Rwanda are forced to export only those that
are conflict-free.
However, the law has dissuaded potential buyers from
purchasing minerals.
"We can't change this Act, but we have been able to adhere to
it," the trade minister said.
Safari Eria, the Operations-Manager of Wolfram Mining Processing
Ltd said, "We had already been tagging our minerals...all our
minerals are exported with certificates of origin to ensure
traceability."
For Media Enquiries:
Patrick Bigabo
KT Press
Email
+250788746953
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SOURCE KT Press