Rwanda plans to increase its annual mineral export earnings to $2.17 billion by 2029 under the second National Strategy for Transformation (NST2), as the country works to expand its mining industry.
According to the Rwanda Mines, Petroleum and Gas Board (RMB), mineral exports generated $1.75 billion in 2024, compared with $373 million in 2017. The figures show the considerable growth recorded by the sector over the seven-year period.
The government intends to sustain that progress by attracting more investment, expanding mineral exploration, modernising mining operations and increasing domestic processing. These measures are also expected to strengthen Rwanda’s position within international mineral supply chains.
NST2 initially set a target of increasing mining revenue from a baseline of $1.1 billion to $2.17 billion during its implementation period. The target forms part of wider government efforts to increase export earnings and add greater value to locally handled products.
RMB attributes the sector’s recent growth to reforms promoting mineral value addition, market diversification, professional mining practices, mechanisation and increased investment in exploration.
The government’s objective is not limited to extracting larger quantities of minerals. It also wants Rwanda to retain more of their economic value through domestic processing and other activities across the mining value chain.
Mining has consequently become an increasingly important contributor to Rwanda’s export economy. The government has positioned the sector alongside manufacturing and other productive industries as a major driver of the country’s industrialisation programme under NST2.
Rwanda is pursuing the mining target as part of its broader plan to increase total annual export revenue from $3.5 billion in 2023 to $7.3 billion by 2029.
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