Rwanda’s mineral export revenue has increased from $772 million to more than $1.1 billion, closing in on the target of generating $1.5 billion in annual mineral export revenues by 2024.
The mining sector is currently the second foreign exchange earner, after the tourism sector, according to the Prime Minister’s report.
A report published by the Rwanda Mining and Gas Board (RMB) on February 15, 2024, showed that the above growth recorded in 2022 and 2023 represented a 43% growth year on year.
This is a step closer to achieving the government’s target of generating $1.5 billion in annual mineral export revenues by 2024.
According to Rwanda Mines, Petroleum and Gas Board (RMB), the growth is attributed to increased value addition, continued professionalism, greater investment in mechanization and the strategic implementation of sustainable and responsible mining practices.