{The government has developed strategies that can support the mining sector which is one of the main foreign exchange earners. } <\/p>\n
\u201cGovernment of Rwanda aims at exporting minerals worth $400million by the year 2017. The government therefore looks at ways of helping the mining sector which will help it contribute more to national development,\u201d Michael Biryabarema Deputy Director General\/ Geology and Mines Department said during the recently concluded World Bank\u2019s Rwanda Economic Update report presentation in Kigali.<\/p>\n
According to Biryabarema government has developed a new mining law that replaced the one of 2008 that came out in June 2014 and is aimed at making it easy for investors to come and invest in the mining sector. <\/p>\n
\u201cThis new law allows investors to secure an enabling environment for investment through addressing the challenges involved,\u201d Biryabarema said. <\/p>\n
He said the new law offers mining licenses with duration of 5- 25 years and this duration is offered depending on the volumes to be mined and the amount to be invested which support long term investors in the sector. <\/p>\n
\u201cThis gives investors many chances of getting loans from banks since there is ample time to pay such loans back,\u201d he said. <\/p>\n
According to Biryabarema the procedure to put such licenses under stages will come from the ministerial order that is still under process. <\/p>\n
\u201cWe aim at increasing the mining volumes that have remained stagnant since 2011 making the mining sector more productive like it was before,\u201d Biryabarema said. <\/p>\n
\u201cThe legal framework introduced has strengthened out the record of the demarcations of mining licenses and the management of such licenses has been addressed,\u201d he said. <\/p>\n
\u201cA model agreement that has seen many companies sign contracts with the government was recently signed by the cabinet and this is again bringing in many miners to the country,\u201d he said. <\/p>\n
Different forms of taxes have been introduced in this sector leading to introduction of the loyalty tax which has seen the country collect over Rwf3.4billion since September 2013. <\/p>\n
\u201cWith such introduced taxes the government just needs support from organizations like the World Bank so that such a strategy can be implemented so as to help the sector improve more,\u201d Biryabarema said. <\/p>\n
The government again aims at changing this sector from the traditional mining systems it has been going through to modern ones hence help increase on the sector\u2019s productivity. <\/p>\n
The mining sector of Rwanda contributes over 1.2% to GDP minus construction materials that are also formed under this sector. \u201cIf all such sectors that make up the mining sector are fully employed we believe the sector can even contribute more,\u201d Biryabarema said. <\/p>\n
The sector offers over 33,000 Rwandans with hope to create more off-farm jobs if fully supported. This sector is still very small but growing steadily and this gives hope to the government of offering the needed target by 2017. <\/p>\n
Business Week<\/p>\n","protected":false},"excerpt":{"rendered":"
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