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UK's TechMet to invest US$20mn in Rwanda's mining sector

Rwanda aims to boost its mining sector. (Image source: CIFOR/Flickr)

The UK-based TechMet has announced to deploy around US$20mn in its Rwanda mining operations in the next two years

As reported in the New Times, Menell, a South African businessman and owner of Tinco that operates tin and tungsten mining concessions in Rutongo and Nyakabingo in Rulindo District, announced this during a virtual press conference ahead of the Africa Mining Forum. 

Welcoming the development, Francis Gatare, chief executive director at Rwanda Mines, Petroleum and Gas Board (RMB), stated, “TechMet's announcement today is very welcome news indeed. I am looking forward to them quickly concluding their new agreements with Rwanda Development Board (RDB), so that we can begin working with them to redevelop Rutongo Mines, Nyakabingo and other new joint initiatives.”

Tinco is negotiating with the government to overhaul its operations in Rwanda, and secure a purchase share agreement of key industrial mining blocks in the Northern Province, stated the source.