Rwanda Signs Deal with Mawarid for Tin and Tantalum Extraction

February 10, 2016

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Reuters reported that Rwanda has signed a five-year, $39-million mining contract with Oman’s Mawarid Mining LLC, a subsidiary of MB Holding Company. Under the contract, Mawarid will extract tin, tantalum and niobium.

As quoted in the market news:

Mining, which the government says contributes about 1.5% of Rwanda’s $7.9-billion gross domestic product, is the East African country’s second-biggest source of foreign exchange behind tourism, with metallic ore coltan bringing in the most earnings.

The Ministry of Natural Resources said that it had signed the agreement with Tri Metals Mining – Mawarid’s Rwandan subsidiary – to extract the minerals in the Bisesero concession in Western Province.

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Category: General