Rwanda : Gold minerals discovered in Rwanda

Rwanda Gold minerals discovered

Though no company has yet been licensed to mine the gold in a very profound manner, three foreign companies and some local investors ( such as: Kivu Gold, Transafrika, Rogi Mining, General Mining Company) have completed surface exploration, including detailed mapping, intensive trenching and sampling about the present gold minerals,discovered in Western and Nothern provinces of Rwanda.

“The data collected so far, indicates that there are gold deposits in Miyove and some other places that we have explored, although we are not yet certain of the quantities,” said Oleg Moiseev, the Managing Director of Rogi Mining- one of the mining companies in Rwanda.

Although there is no confirmation about the amount and quality of present gold, several foreign investment companies are working towards exploring that opportunity.

 

We discovered that there are larger gold deposits and we want to get the full permits to start proper mining procedures,” said Jean Ntabana, the proprietor and general director, General Mining Company which operates in Rwashanyi, Bushekeri and Nyamasheke areas.

Rwanda intends to yield from the just discovered gold in the future.
“Gold is for the future and not now; we have a lot of cassiterite, coltan and wolframite and we are still concentrating on these because they bring in tangible revenues,” said Francis Kayumba, the Director of Regulations and Inspection in the department.
 

The total value of mineral exports, last year, was $158.8 million making it the country’s second foreign exchange earner after tourism.

Meanwhile, Director of research from the Geology and Mines Department, Hildebrand Kanzira, confirmed that there are potentially 10 gold rich sites in Rwanda, which, when tapped, will significantly push the mining sector forward.


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Based in New York, Patrick is a Wall Street Broker and Financial Pundit. He works as a Foreign Consultant for Rwanda Eye. His insights on the current economic trends and its impact on Rwanda and Africa, makes him an invaluable asset to Rwanda Eye.

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