This archive report was first published on 2 September 2019.
Published on September 2, 2019, Rwanda's mining industry is facing a challenging period due to low international prices for its principal minerals.
The country's mining exports are expected to fall short of the $600 million revenue target for 2019, with investors also concerned about missing the $800 million target for 2020.
The low prices are attributed to the country's minerals, including tin, wolfram, and coltan, fetching significantly less than they did in 2018.
Tin is currently selling at $15,700 per tonne on the London Metal Exchange, down from an average of $21,000 last year, while wolfram is attracting $110 per tonne, down from $180.
Coltan prices have also been slashed by half from last year, with the current price standing at $0.89 per density.
According to Jean Malic Kalima, president of the Rwanda Mining Association, 'It is a bad period and the mining fraternity is feeling the pinch. It will be difficult to achieve the targets set by the government under current prices.'
However, Kalima remains hopeful, citing the country's efforts to add value to its minerals through smelting, including the recent commissioning of a tin smelter.
Despite this progress, miners argue that the high cost of electricity in Rwanda remains a significant challenge to lowering the cost of adding value to tin exports.
