Rwanda targets $15 billion from mineral exports by 2024, build gold refinery

In its bid to improve its economy and standard of living, Rwanda has planned to make over $15 billion from mineral exports by 2024.   gold

With this foresight, the nation has built its first-ever gold refinery at to process gold from all over Africa and halt raw minerals from leaving the continent.

The ‘land of a thousand hills’ has set up its first-ever gold refinery with a capacity to process gold from around Africa.

Pointing out that Africa loses a lot of revenue by exporting raw resources, Rwanda’s Minister of Trade and Industry said, “This is also to showcase that we can add value to raw materials and investments that have been made.”

YOU CAN ALSO READ: Fintech firms gets $400 million investment in 2019 – Emefiele

The new facility has a capacity to refine 6 tonnes of gold a month, or about about 220 kilogrammes a day, and officials said they were working to expand its capacity as demand increases.

According to the Ministry of Trade and Industry, Rwanda, which recently launched its first commercial flight to China, exported some $500 million worth of minerals – albeit in raw form.