The government of Rwanda will give priority to the Mining sector this year. The industry registered steady growth in 2008 earning $89 million in foreign exchange as of October.

And the National Bank of Rwanda - the country’s central bank - says mining is poised to be one of the top foreign exchange earners, earning over $100m by the time all 2008 earnings are in.

Director-General of Geology and Mines Authority Michael Byabalema says the government will give more support to the industry and also strive to acquire the ISO 9001:2000 certification that vouches for quality on the international market.

According to the Rwanda Investment and Export Promotion Agency, export revenues had reached $71.5 million in 2007 and created more than 30,000 jobs. Mining grew by 20.2% by October 2008.
The mineral cassiterite earned the country $31.9 million in foreign exchange, while coltan earned $19.2 million and wolfram $19.4 million.

Currently three companies - Russian, Canadian and South African - are exploring for gold in Rwanda.

World Bank’s investment arm the International Finance Corporation IFC, which is involved in several mining projects in sub-saharan Africa, said it will explore possibilities of providing support to improve the governance of Rwanda’s mining sector this year.