Rwanda is scheduled to begin Locally Processing Tungestine under a new and ambitious deal with global giant Almonty Industries Inc.
Taarifa Business Desk has established that Rwanda has been allocated a 25% stake in Almonty Industries Inc. This follows a partnership deal aimed at advancing the mining of high-value minerals, specifically Tungsten.
National Mining, Petroleum and Gas Authority (RMB) revealed that the agreement that Rwanda has signed with Almonty Industries Inc [which has its subsidiary Almonty Rwanda Pty Ltd], stipulates that this company will purchase the mined high-value minerals, process them with equipment, and also commit to building a processing plant in the country.
The Rwanda government views the new development as a crucial step in advancing the value chain of high-value mineral mining in Rwanda, the ability to process them, as well as the development of advanced mining.
Rwanda stands to benefit from Almonty’s distinctive position in the tungsten market, supported by its established global projects network in conflict-free regions.
Uses of Tungestine
Tungsten is used in the production of; filament wire for lighting (2%); and specialty uses for mobile phone handsets, military, ballistics.
It is also used in manufacturing automotive parts, aerospace components, drilling, boring & cutting equipment, logging equipment, electrical & electron- ics appliances, chemical applications and other end-uses.
Rwanda Tungestine Reserves
According to available statistics from global geological research firms, Rwanda is the only African country ranked among the world’s top ten tungsten producers,.
The East African country has major deposits like the Nyakabingo Mine which hosting over 40 years of viable wolframite (tungsten mineral) reserves.
The global tungsten market is mainly driven by China, which is expected to continue to dominate both tungsten supply and consumption.
