Rwanda on Thursday signed with a British company a 22-million-U.S.-dollar agreement on mining license in the country's eastern provinces.
Pella Rwanda Resources ltd, an African focused natural resource and energy group, has a strong track record in exploration and mine development across 18 countries in Africa, according to authorities.
The company will carry out a five-year project to extract mainly cassiterite and possibly tantalite and tungsten at Musha and Ntunga in Rwamagana District, with expected minimum refined minerals production of 50 tons to 120 tons every month.
Evode Imena, Minister of State in the Ministry of Natural Resources in charge of Mining, said it is a big opportunity for Rwanda to enhance mineral sector development and transform the lives of Rwandan citizens through employment opportunities.
Rwanda's mining sector is steadily becoming one of the country's biggest foreign exchange sources after tourism, fetching 136.6 million dollars last year.