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British Miner Pella Says To Mine Tin Ore In Rwanda
20/09/2013
KIGALI (Reuters) - The Rwandan subsidiary of British mining firm Pella Resources Ltd plans to invest $22 million in the east African country's small mining industry to extract tin ore, according to a deal signed by both sides on Thursday.
The government said the investment was a boost to its ambition of tripling the mining sector's revenues to around $400 million in the five years to 2017. Mining is Rwanda's second largest foreign exchange earner after tourism.
Pella Rwanda Resources Ltd said it expected to be producing 50 tonnes per month within a year of the commencement of production, before ramping up to 120 tonnes a month by the end of the fifth year.
Rwanda currently produces between 600 to 700 tonnes of mineral ore a month for export, Evode Imena, Rwanda's state minister in charge of mining, said.
In 2012, mining accounted for 28 percent of Rwanda's exports, second only to tourism. Tea accounted for 14 percent and coffee 12.6 percent of all exports.
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