Rmb’s Twagirashema on meeting mining targets in export, investment & cooperation

In a recent interview with CNBC Africa, Ivan Twagirashema, the Deputy CEO of the Rwanda Mines, Petroleum and Gas Board, discussed Rwanda's impressive milestone of surpassing the billion-dollar mark in mineral exports. Twagirashema expressed optimism about Rwanda's progress in the mining sector, highlighting the challenges and opportunities that come with the industry's unpredictability. Rwanda's mineral trade hinges on various factors such as international market fluctuations, price volatility, and evolving certification requirements. Twagirashema revealed that Rwanda's mineral exports had soared to $1.1 billion, a significant jump from the previous year's figure of $772 million. The country now aims to reach $1.5 billion by the end of the year. Additionally, discussions on the setup of a new orientation, NST2, are underway among government stakeholders to further enhance the mining sector's growth. The Deputy CEO emphasized the importance of the entire mineral supply chain, from exploration to mining exploitation, trading, and value addition. Companies like Rio Tinto and others are showing interest in exploring, joint ventures, and adding value locally before exporting commodities, aligning with Rwanda's vision for a comprehensive approach to mineral development. Global market dynamics, including the impact of the energy transition and critical minerals demand, were also discussed. Twagirashema addressed the challenges and opportunities presented by the changing market landscape, along with the need for Rwanda to tap into supply gaps left by countries like Uganda. The country's focus on transitioning artisanal mining to mechanization and facilitating trade through pre-financing arrangements underscores its commitment to sustainable mineral development. The interview touched upon the evolving landscape of international collaborations and the increasing interest of Middle Eastern countries in African mineral resources. Twagirashema emphasized the need for proper due diligence in engagements with international partners to ensure fair trade practices and compliance with environmental and human rights standards. Twagirashema expressed optimism about Africa's growing bargaining power in the global mineral market, citing the continent's abundance of critical minerals essential for the energy transition. He underscored the importance of strong leadership and a change in mindset to leverage Africa's resources effectively in negotiations with international partners. The discussion also delved into the evolving dynamics of certification mechanisms in the global market and the need to navigate regional conflicts that impact the credibility of African mining markets. Twagirashema highlighted challenges faced by African suppliers in international trade, emphasizing the importance of efficient trade mechanisms and fair business practices. In conclusion, Twagirashema expressed confidence in the potential of the African Continental Free Trade Area (AfCFTA) to drive business gains and foster greater economic cooperation across the continent. As Rwanda continues its journey towards achieving mining targets and fostering international collaborations, the Deputy CEO's insights shed light on the opportunities and challenges that lie ahead for Rwanda's mineral sector.