According to the World Bank’s latest report on the commodity market outlook, the top 3 cassiterite producers on African continent 2016, Rwanda is ranked 3rd in Africa and 12th in the world.
Nigeria has overtaken Rwanda, by booking 2nd spot in Africa after producing 3 800 tons in 2016 comparing to Rwanda’s 2 600 tons while DR Congo tops the ranking at continental level, having produced 4100 tons in the process.
However, Nigeria is the only African country which features top 13 of countries in terms of producing processed cassiterite, having processed 600 tons in 2016.
Sad news, however, is that the cassiterite price on the market has declined since the beginning of 2017, where a ton of cassiterite costs USSD 19446 in February comparing to USSD 21 204 (Rwf 18 million) in October 2016.
In April 2017, Rwanda received USSD 150 million grant support from World Bank to improve the mining sector production.
Rwanda is targeting a USSD 400 million profit from mining production until 2018, but only if the price of cassiterite rises as it earns the country more money than Wolfram and Coltan.
China continue to top the rankings of Cassiterite most producing countries while DR Congo is bidding to overtake Vietnam on the 8th place or even more ahead while it keeps holding a tight hand on being Africa’s top cassiterite producer.
In the 2017-2018 budget, “Export revenues are expected to increase by 21.6%, mainly due to the 40% increase in tea revenues and the 23% increase in mining revenues.”
Apart from casseterite, Rwanda exports coltan, gold, tungsten, and beryl as minerals. But authorities recently discovered new minerals including rare earth elements, precious stones, cobalt, iron and lithium in various locations across the country. This was revealed to the press by Lt Col. Dr. Emmanuel Munyangabe, Chief Operations Officer of Rwanda Mines, Petroleum and Gas Board (RMPGB), a new body set up by the Government to oversee and coordinate all exploration activities related to the Rwandan mining sector.
Major mining sites known in Rwanda are like Shyorongi, Musasa, Rutongo, Rwinkwavu, Musha-Ntunga, Bugarura, Miyove, Gifurwe, Karenda, Nyungwe, Bugesera, Ndiza, etc.
click here to receive the updated news on facebook on twitte
1,958 total views, 23 views today
Your email address will not be published. Required fields are marked *
Copyright © 2014 -2017 - Bwiza.com - All Rights Reserved