Rwanda is targeting a major expansion of its mining industry, with annual mineral export revenues projected to rise to $2.17 billion by 2029 under the National Strategy for Transformation 2 (NST2).
The target represents a significant increase from the $1.75 billion recorded in mineral export earnings in 2024, according to the Rwanda Mines, Petroleum and Gas Board (RMB). Mineral exports have more than tripled since 2017, when they stood at $373 million.
The government is seeking to drive further growth through increased investment, mechanisation, mineral processing and exploration, while strengthening Rwanda’s position in global mineral supply chains.
The NST2 projects mining revenues to increase from $1.1 billion to $2.17 billion over the strategy period, alongside broader efforts to increase export earnings and promote value addition.
RMB says reforms implemented in recent years have included greater mineral value addition, market diversification, professionalisation of mining operations, mechanisation and increased investment in exploration.
The push is intended not only to increase the volume of minerals extracted but also to capture more value within Rwanda through processing and other activities along the mining value chain.
The sector has become an increasingly important contributor to Rwanda’s export economy, with the government positioning mining alongside manufacturing and other productive sectors as key drivers of NST2’s industrialisation agenda.
Rwanda’s mining ambitions come as the country seeks to expand total export revenues to $7.3 billion by 2029, up from $3.5 billion in 2023.
