Rajesh Exports Ltd., India’s largest jewelry maker and exporter, said it may invest as much as $1 billion in Rwanda over the next five years developing the country\u2019s gold industry and building a diamond-trading business.<\/strong><\/p>\n <\/p>\n <\/strong><\/p>\n The company, based in Bangalore, India, is in talks with Rwanda\u2019s government about proposals that include establishing a gold refinery within six months, Ravi Chandra, the company\u2019s chief executive officer for mining, said in an interview in Kigali.<\/p>\n Most of the gold mined in Africa is currently exported to South Africa or Europe for processing, Chandra said. Rajesh Exports is seeking to make Rwanda a continental hub for gold processing over the next three to five years.<\/p>\n \u201cOur aim is to try to bring the gold from most of Africa to Rwanda,\u201d Chandra said.<\/p>\n Rajesh has begun exploring a 2,000 square-kilometre<\/span> gold concession in Rwanda that it wants to increase to 15,000 square kilometres<\/span>, Chandra said. Eventually the company plans to export products including jewelry and coins. It also intends to set up a diamond business that may involve importing and exporting the gems as well as cutting and polishing, he said, without providing further details.<\/p>\n Rajesh Exports is also working with the Rwandan government to establish a legal way to import gold from neighbouring<\/span> Democratic Republic of Congo. In March, Rwanda banned the purchase of so-called conflict minerals including gold, tungsten, coltan<\/span> and tin from Congo after the U.S<\/span>. passed a law aimed at halting the trade.<\/p>\n \u201cWe are hopeful to find a legal solution,\u201d Chandra said.<\/p><\/p>\n","protected":false},"excerpt":{"rendered":" Rajesh Exports Ltd., India’s largest jewelry maker and exporter, said it may invest as much as $1 billion in Rwanda over the next five years developing the country\u2019s gold industry and building a diamond-trading business. The company, based in Bangalore, India, is in talks with Rwanda\u2019s government about proposals that include establishing a gold refinery within six […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"byline":[277],"hashtag":[],"class_list":["post-188","post","type-post","status-publish","format-standard","hentry","category-business","byline-igihe-com-reporter"],"bylines":[{"id":277,"name":"IGIHE.com Reporter","slug":"igihe-com-reporter","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":null}],"contributors":[{"id":277,"name":"IGIHE.com Reporter","slug":"igihe-com-reporter","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":null}],"featured_image":null,"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/188","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=188"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/188\/revisions"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=188"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=188"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=188"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=188"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=188"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Talks between the company and the Rwandan government are \u201cstill very exploratory\u201d and may take six months to complete, Clare <\/span>Akamanzi<\/span><\/span>, chief operating officer of the Rwanda Development Board, said in an interview. The projects envisaged by the company may cost $500 million to $1 billion, she said.<\/span><\/h2>\n
The Dodd-Frank law will require American companies to report any purchases of gold, tin, tungsten and tantalum that might have come from conflict zones in Congo, according to a draft of the regulations on the <\/span>U.S<\/span><\/span>. Securities and Exchange Commission\u2019s website. Fighting has raged in eastern Congo for more than 15 years and armed groups often support themselves by taxing or trading in minerals.<\/span><\/h2>\n