(3 minutes read)
The Rwandan mining sector is betting on the momentum built around gemstone demand and value addition to stop reliance on cassiterite, coltan, and wolfram. The prices of these key minerals have been highly volatile in the last few years, which adversely affected the mineral export from the country.
The Rwandan mining sector is relying on the momentum built around gemstone demand and value addition to stopping reliance on cassiterite, coltan, and wolfram. The prices of these key minerals have been highly volatile in the last few years, which adversely affected the mineral export from the country.
Currently, prices of the three minerals have continued to fall on the international market as pandemic shocks and war in Ukraine continue to hurt markets. Cassiterite prices have dipped to $21,000 per tonne from $44000 in the first months of the year, while coltan now trades at $1.5 per tantalite from $2.2 and continues to fall.
Gemstone demand in the global market has given a shot in the arms of dwindling Rwandan mineral export. A rejuvenated momentum is building around gemstone mining and value addition to shield the sector from over-dependence on the three minerals.
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Some of the gemstones mined in Rwanda include beryl (Aquamarine), Amblygonite, Corundum (Ruby and sapphire), Amethyst, Tourmalines, and different types of Quartz, and buyers have found the country’s gemstones to be of superior quality.
Most of the gemstone deposits are found in the Western part of the country, and more companies are registering to start mining and consequent processing.
