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Rwanda-based Tri Metals Mining Limited, subsidiary of Oman’s Mawarid Mining LLC, has signed three large-scale mining agreements with the Rwandan government to undertake mining operations at Bisesero in Karongi District
The deal was signed by Evode Imena, Rwanda’s minister of state in-charge of mining in Ministry of Natural Resources, Rwanda Development Board’s (RDB) CEO Francis Gatare, while Tariq al Barwani, MD of Mawarid Mining LLC, signed on behalf of the investor, the New Times reported.
With an estimated project value of US$39mn, Tri Metals Mining Limited will carry out mining operations to extract mainly Cassiterite (Tin), Niobo-Tantalite (Tantalum and Niobium) and Wolframite (Tungsten) in Bisesero concessions situated in the western province.
Bisesero concession is one of the largest Rwanda has had for so long, dating way back to 1830, according minister Imena, and it has been changing investors ever since.
In 2013, Rwanda had invited interested parties to take over the Bisesero concessions, after dividing it into three blocks with an intention of getting optimal development of the mine, the minister revealed.
“Through a long process, Rwanda secured the deal with Mawarid, which will begin exploration, as soon as they can,” said Imena, adding that the government will facilitate the company in whatever is needed to ensure seamless work process.
According to al Barwani, the concession agreement period would last for five years, adding that this is the right time to explore regardless of the mineral price fluctuations on the international market.