Kigali, Rwanda — 17 April 2013 – Rwanda prime minister, Pierre Damien Habumuremyi says the government’s strategy to develop the country’s mining sector will raise revenue and increase the sector’s contribution in the economy.
Appearing before the joint session of the senate and the lower chamber of the Rwandan parliament, the premier elaborated on the government’s plan to develop the mining sector consistently and triple revenue to US$409 million by 2017 from last year’s US$136.6 million, allAfrica.com reports.
The government of Rwanda has attracted investors including eight big foreign companies exploring for mineral deposits. They include Saphire Miners, Rogi Mining, TransAfrica and EMR Resources. Fresh exploratory research by the German mineral explorer, BEAK Consultants, has also been concluded.
The premier said the increase in revenue would be supported by extensive mineral exploration and value addition in order to fetch higher prices on the internal mineral market.
He added that in order to strengthen supervision and professionalism in the mining sector, the country’s mining laws were to be reviewed and the Rwanda Geology and Mines Authority (OGMR) would be restructured.
New mineral deposits maps would be published to attract credible investors, and model mining agreements would be used as a basis for new commitments.
Habumuremyi explained that exploratory research was being concluded with a focus on high value minerals like gold, copper, lead, zinc, silver, nickel, wolfram, and rare earth elements, so as to have a clear picture, to attract potential investors and to boost export earnings.
Rwandan president Paul Kagame recently appointed Evode Imena as the state minister in charge of mining, a new portfolio in the Ministry of Natural Resources.
Source: allAfrica.com. For more information, click here.