Insights · Sectors
Mining and minerals in Rwanda: what a foreign company can do, and what it must prove
Minerals are Rwanda's largest export earner, and the sector runs on a law renewed in 2024, a minerals tax rewritten the same year and a regulator that licenses everything from a sand quarry to a tin smelter. Foreign-owned Rwandan companies can hold every licence type. The harder part sits outside the statute book: UN experts, the European Union and the United States have tied parts of the regional mineral trade to the conflict in eastern DR Congo, and Rwanda rejects those findings. This article sets out the law, the licences, the taxes, the production figures, the traceability rules and the political record as both sides state it, and then the practical routes in for a foreign entrant.
Key takeaways
- All minerals belong to the State. Law N° 072/2024 of 26/06/2024 on mining and quarry operations, in force since 24/07/2024, replaced Law N° 58/2018 and governs every licence. The Rwanda Mines, Petroleum and Gas Board (RMB) grants and supervises them.
- There is no restriction on foreign ownership, and no mandatory state stake. Licences go only to companies registered in Rwanda, so a foreign investor incorporates a Rwandan company or partners with one.
- Royalties fell sharply under Law N° 056/2024 on minerals tax: 3% for base metals, 2% for gemstones and rare earths, 0.5% for gold. Raw exports pay a separate export tax. Corporate income tax is 28%, or 15% for registered investors exporting minerals processed in Rwanda.
- Mineral exports reached USD 1.1 billion in 2023 and USD 1.7 billion in 2024, most of it gold. Gold exports fell to USD 517 million in 2025, according to IMF data reported by Bloomberg, while 3T exports rose 46.2%.
- Buyers apply the OECD due diligence framework, the EU Conflict Minerals Regulation and the US conflict minerals rule. Rwanda is a covered country under the US rule.
- UN experts allege that DR Congo minerals were laundered through Rwanda. The EU sanctioned the then RMB chief executive and Gasabo Gold Refinery in March 2025; the US sanctioned the refinery and three mining companies in June 2026. Rwanda calls the findings and sanctions unjustified. A foreign entrant must screen every counterparty and prove origin at every step.
Sources: The New Times, "Rwanda records $1.5bn in gold exports in 2024", citing Prime Minister Edouard Ngirente (28/03/2025); NISR, GDP National Accounts Q2 2026 (September 2026); RRA, "Tax on minerals reduced" (2024); Liedekerke Great Lakes, Chambers Global Practice Guide Mining 2026: Rwanda (updated 27/01/2026).
Who owns what lies under the ground
In Rwanda the subsoil belongs to the State. Article 3 of Law N° 072/2024 vests mineral rights in the State, and Article 43 of Law N° 27/2021 of 10/06/2021 governing land confirms that ownership of land does not carry ownership of the minerals under it. A landowner on top of a deposit has a right to fair compensation before operations start (Art. 4 of the mining law), and nothing more. Where land must be taken, the expropriation law, Law N° 32/2015 of 11/06/2015, applies.
The State does not mine on its own account in the ordinary case. It licenses private operators and takes its share through royalties, taxes and fees. The 2024 law gives the government discretion to acquire shares in a project on terms agreed with the licence holder, with more room in the case of strategic minerals, but there is no mandatory state participation and no compulsory joint venture. Existing examples of state equity are negotiated deals. The LuNa tin smelter in Kigali, for instance, is owned 75% by Luma Holding of Poland and 25% by the state-owned Ngali Holdings.
In Kinyarwanda, minerals are amabuye y'agaciro (minerals; literally, valuable stones), mining is ubucukuzi (mining, extraction), a quarry is a kariyeri (quarry), and mines are ibirombe (mines). You will see these words on RMB correspondence and in the Kinyarwanda text of the Official Gazette, which publishes every law in Kinyarwanda, English and French.
Sources: Law N° 072/2024 of 26/06/2024, Arts. 3 and 4 (Stabit Advocates, "Investing in Rwanda's mining sector", 02/06/2026); Law N° 27/2021, Art. 43, and Law N° 32/2015 (Chambers Mining 2026: Rwanda, 27/01/2026); Ministerial Regulations N° 001/MINIFOM/2011 of 10/03/2011, Official Gazette n° 12 of 21/03/2011 (Kinyarwanda and English parallel text).
The law and the regulator
The sequence of mining statutes is short. Law N° 13/2014 of 20/05/2014 was repealed by Law N° 58/2018 of 13/08/2018 on mining and quarry operations (Art. 70), and that law was in turn repealed by Law N° 072/2024 of 26/06/2024, published in the Official Gazette on 24/07/2024 and in force from that date. Some guides still cite a 2014 law; it is two generations out of date. Licences issued under the 2018 law remain valid until they expire.
The 2024 law raised penalties for illegal mining and illicit trading. Unlicensed mining can bring two to five years' imprisonment and a fine of up to RWF 50 million (Art. 63). Minerals held without proof of origin attract a 10% administrative fine and can be confiscated and auctioned (Art. 50). Reporting and boundary failures carry an administrative fine of RWF 500,000 (Art. 51). The law also adds rehabilitation duties for anyone who mines without a licence.
The Rwanda Mines, Petroleum and Gas Board (RMB) grants, renews, transfers, suspends and cancels mineral and quarry licences. It runs the online mining cadastre, the Geological Information and Mining Cadastre System, which RMB and district staff use to process applications. The Rwanda Development Board (RDB) approves the environmental and social impact assessment, and the Rwanda Environment Management Authority (REMA) issues the final rehabilitation certificate at closure. The Rwanda Revenue Authority (RRA) collects royalties and taxes. Each akarere (district) where a mine sits has a role in community and land matters, and districts run mining task forces with RMB.
The sector is larger than its share of GDP suggests. RMB records about 940 active licences, including about 21 exploration and 194 mining licences, and artisanal and small-scale operators account for roughly 80% of activity. A 2017 airborne survey identified more than 50 potential target areas, and the 2025 Mining Investment Pitchbook opened ten mineral blocks to investors, including tin, beryllium and lithium blocks.
Sources: Chambers Global Practice Guide Mining 2026: Rwanda, Liedekerke Great Lakes (updated 27/01/2026); African Mining Legislation Atlas, Law on mining and quarry operations 2018, Art. 70 (accessed October 2026); Stabit Advocates (02/06/2026), Arts. 50, 51 and 63; The New Times, "Five things you should know about Rwanda's new mining law" (30/09/2024).
The first question we ask a mining client is which law issued the licence they are buying into. A 2018-law licence stays valid, but its renewal, transfer and obligations now follow the 2024 law. Read the licence, the agreement signed with RMB and the 2024 transitional rules together before any price is agreed.
Licences
Five licence types, one regulator
Every uruhushya (licence) in the sector comes from RMB under Law N° 072/2024. Terms below are the statutory maxima; the actual term follows the approved work programme.
| Licence | What it allows | Initial term | Renewal and key duties |
|---|---|---|---|
| Exploration | Search for and assess deposits in a defined area; no commercial extraction (a special export permit for samples is possible) | Up to 4 years | Start within 90 days. Renewable once for up to 4 years, possibly with partial relinquishment. First-in-time right to apply for a mining licence on a discovery. |
| Mining: small, medium or large scale | Extract, process and export the holder's own production without separate processing or trading licences; export permit still needed | Up to 15 years | Start within 180 days. Renewable more than once, each time for up to 15 years. Term set by the feasibility study and implementation programme. |
| Mineral processing | Process, smelt or refine minerals, including from third parties (Art. 19) | Set in the licence | EIA, rehabilitation plan and environmental audit apply as for mining. |
| Mineral trading | Buy and sell minerals and export them (Art. 20) | Set in the licence | Proof of origin for every lot; traceability and export certification apply. |
| Quarry | Extract construction and industrial materials (Arts. 28 and 30) | 1 year (non-commercial small scale); 5 years (commercial small scale); up to 15 years (industrial) | Industrial term follows the feasibility study. |
Sources: Chambers Global Practice Guide Mining 2026: Rwanda (27/01/2026); Stabit Advocates on Law N° 072/2024, Arts. 7, 13, 14, 19, 20, 28 and 30 (02/06/2026). The 2024 law does not create a separate artisanal licence category in the summaries we reviewed; small operators hold small-scale licences, and we confirm the category for your project with RMB.
How an application runs
Applications go in writing to RMB through the One Stop Centre, and in some cases RMB opens an area to tender. A specialised application committee reviews the file and makes a recommendation, and RMB decides. Once a mining licence is issued, the holder signs an agreement with the State before operations begin. That agreement carries much of the practical detail: work programme, investment commitments, local procurement, community obligations and, where negotiated, any special terms.
RMB will not grant a licence over an area already covered by another licence of the same type, although it may authorise exploration for other minerals in the national interest. A licence can be transferred only with RMB's prior authorisation, and not before a set share of the committed investment has been made. RMB can suspend or cancel a licence only on limited grounds, and must give 30 days' notice for the holder to remedy a breach.
Fees and guarantees
Liedekerke reports licence fees in Rwandan francs that vary with licence type and area: application fees of RWF 100,000 to RWF 4.5 million, annual fees of RWF 100,000 to RWF 5 million, renewal fees of RWF 100,000 to RWF 9 million and transfer fees of RWF 900,000 to RWF 4.5 million. Mining licence holders also pay annual surface rent of RWF 6,500 per hectare. Before operations, a mining licence holder deposits an environmental rehabilitation guarantee equal to the liabilities estimated in its impact assessment into the account of the National Fund for Environment. The exact fee for a given licence is in the applicable regulation, which we check for your area before you file.
Sources: Chambers Global Practice Guide Mining 2026: Rwanda, sections on application, fees and environmental guarantees (27/01/2026).
Exploration licences fail on the 90-day start rule more often than on geology. Mobilising a drilling contractor, a camp and community consultation in three months is tight. Have the contractor and the impact assessment consultant lined up before RMB issues the licence, and keep a dated record of the first works.
Foreign investors
What a foreign-owned company may hold
Ownership: open, through a Rwandan company
Rwanda does not restrict foreign investment in exploration or mining, and its tax law does not distinguish between national and foreign investors. The one structural rule is that licences are granted only to companies registered in Rwanda. A foreign group therefore holds its licence through a Rwandan isosiyete (company), wholly owned or with a local partner. The company is registered with the Office of the Registrar General under Law N° 007/2021 of 05/02/2021, which requires at least one director resident in Rwanda (Arts. 7(4) and 157).
A branch of a foreign company is a Rwandan establishment, but the Chambers guide speaks of "companies registered in Rwanda", and RMB practice favours a local subsidiary. We confirm with RMB before recommending a branch for a licence holder.
Local content
The 2024 law requires licence holders to procure local goods and services, with preference for Rwandan contractors and locally produced materials where applicable (Art. 72), and to take part in developing the mining area together with district authorities (Art. 74). Investors must also follow policies on recruiting and training Rwandan nationals. There is no statutory local shareholding quota. Local partners in practice are commercial choices: an existing licence holder, a cooperative or a Rwandan investor who brings land relationships and operating experience.
Environment and community
Before operations, an exploration, mining or processing licence holder commissions an environmental and social impact assessment from an independent expert and submits it to RDB for approval, with a rehabilitation plan and budget. After the licence is issued, an independent environmental audit follows. Environmental law is Law N° 48/2018 of 13/08/2018 on environment. Projects in ecologically or culturally sensitive areas are classed as high impact automatically.
Mining is prohibited within 20 metres of wetlands, 10 metres of main rivers and 5 metres of small riverbanks, and washing minerals in rivers or wetlands is banned. Five fully protected areas cover about 9% of the country: Akagera, Gishwati-Mukura, Nyungwe and Volcanoes national parks and the Rugezi-Burera-Ruhondo wetland complex. The licence holder stays liable until site closure and REMA's final rehabilitation certificate.
Mining licence holders also prepare a development and social welfare plan with the district, which RMB approves: income-generating activities, reforestation and social programmes. Failure can lead to revocation.
Sources: Chambers Global Practice Guide Mining 2026: Rwanda (27/01/2026); Stabit Advocates on Law N° 072/2024, Arts. 72 and 74 (02/06/2026); Law N° 007/2021 of 05/02/2021, Arts. 7(4) and 157 (CDH).
Budget the impact assessment and the rehabilitation guarantee before the licence fee. For a small mine, the guarantee deposited with the National Fund for Environment can exceed every government fee combined, and banks financing the project will ask to see it.
Production
What Rwanda mines, processes and exports
Rwanda's geology is dominated by tin, tantalum and tungsten, the 3Ts, with gold, gemstones and newer lithium and beryllium targets.
The 3Ts
Cassiterite (tin ore), coltan or columbite-tantalite (tantalum ore) and wolframite (tungsten ore) are mined across the country, largely by small operators and cooperatives. The largest industrial operator is Trinity Metals, formed in 2022 from the Rutongo, Nyakabingo and Musha mines, with TechMet as majority shareholder. TechMet is partly owned by the US International Development Finance Corporation (DFC), which gave Trinity USD 3.865 million of technical assistance in June 2024.
- Nyakabingo, Shyorongi sector, Rulindo District, Northern Province: tungsten. Trinity describes it as Africa's largest tungsten operation, producing just over 100 tonnes of concentrate a month. Since an August 2025 agreement with Global Tungsten & Powders and Traxys, more than 320 tonnes of concentrate have been shipped to a plant in Pennsylvania.
- Rutongo, Rulindo District, about 26 km north of Kigali: tin, with a 25-year licence from 2015.
- Musha, Musha sector, Rwamagana District, Eastern Province: tin and some tantalum, with a 25-year licence from 2014. The Ntunga lithium exploration project sits within the Musha concession. A 2024 drilling campaign went to 800 metres, and Trinity's initial modelling suggests 70 to 100 million tonnes at above 1%, figures it says need a second drilling phase to confirm.
Other producing areas named by the US Geological Survey include Burera, Kayonza, Muhanga, Rutsiro, Ngororero, Nyamasheke and Rubavu for the 3Ts. The Gifurwe tungsten mine in Burera District was held under concession by Wolfram Mining and Processing Ltd, which signed a five-year extension with the government in 2012; that company is one of those designated by the US Treasury in June 2026. Ngororero in Western Province hosts licensed coltan concessions.
Gold, gemstones and new minerals
Our separate article on gold in Rwanda covers the gold trade, its refineries and the entry routes in depth. Gold occurs in Gicumbi, Karongi, Nyamagabe, Nyamasheke and Rusizi Districts according to the USGS; President Kagame has said Rwanda's own gold was first found at Miyove, Gicumbi District, during the 1990 to 1994 war. Gemstones include tourmaline from central Rwanda and amethyst and sapphire from artisanal sites. Lithium, beryllium and amblygonite are the diversification targets. Not every lithium story survives drilling: Rio Tinto withdrew from Aterian's HCK lithium and tantalum project in October 2025, concluding it could not support a mine of the size a major requires; Aterian now holds 70% and HCK Mining 30%.
| Measure | Figure | Period | Source |
|---|---|---|---|
| Mineral exports, total | USD 772m | 2022 | RRA |
| Mineral exports, total | USD 1.1bn | 2023 | RRA |
| Mineral exports, total | USD 1.7bn | 2024 | Prime Minister Ngirente via The New Times; MINECOFIN via The EastAfrican gives USD 1.75bn |
| Gold exports | USD 1.5bn | 2024 | The New Times |
| Gold exports | USD 517m | 2025 | IMF data via Bloomberg |
| 3T exports, change | +46.2% | 2025 vs 2024 | MINECOFIN via The New Times |
| Tantalum concentrate exports recorded by ITSCI | 2,354 t | 2024 | ITSCI |
| Registered investment in mining and quarrying | USD 346.9m | 2025 | RDB |
| Mining and quarrying output, real growth | +26% | Q2 2026 vs Q2 2025 | NISR |
| NST2 target for mineral exports | About USD 2.2bn a year | By 2029 | Government of Rwanda |
Sources: RRA, "Tax on minerals reduced" (2024), for 2022 and 2023; The New Times, "Rwanda records $1.5bn in gold exports in 2024" (28/03/2025); The EastAfrican via Zawya, "As Rwanda's mineral exports surge, trade deficit narrows" (18/02/2026); Bloomberg via MINING.COM, "US sanctions Rwandan refinery in Congo gold smuggling network" (25/06/2026); The New Times, "How Rwanda's 3T mineral exports grew by 46%" (16/02/2026); ITSCI statement on tantalum flows (12/11/2025); RDB 2025 annual report via The New Times (28/04/2026); NISR, GDP Q2 2026 (September 2026); IGIHE, Trinity Metals (17/06/2026); Taarifa (29/07/2026); International Tin Association, Trinity Metals profile; The New Times, Musha lithium exploration (29/11/2023) and Gifurwe concession (16/12/2012); USGS Minerals Yearbook, Rwanda 2019; KT Press (28/11/2025, 27/06/2026); Ecofin Agency on Aterian (03/11/2025).
Processing and refining in Kigali
Rwanda's policy is to export more metal and fewer concentrates, and the minerals tax rewards that. The Chambers guide lists three operating value-addition plants: Gasabo Gold Refinery, the Power X tantalum refinery and the LuNa tin smelter. RMB is seeking investors for tungsten and lithium processing and for gemstone cutting and polishing, and a mining processing zone is planned at Gahanga in Kicukiro District.
- LuNa Smelter, Karuruma, Jabana sector, Gasabo District, Kigali: the historic Karuruma smelter, taken over by LuNa in 2018. It produces LME-grade tin ingots, is a Responsible Minerals Initiative conformant smelter audited annually under RMAP, holds ISO 9001, 14001 and 45001 certificates and is a full ITSCI member. A plant expansion was in design in 2024. Karuruma lies outside the Kigali Special Economic Zone.
- Gasabo Gold Refinery Ltd, Kigali, incorporated in 2022: sanctioned by the EU on 17/03/2025 and by the US Treasury on 25/06/2026 (see below).
- Earlier gold refining in the zone: the Aldango gold refinery, a joint venture of Hilly Metals and Aldabra, opened in the Kigali Special Economic Zone in June 2019.
Sources: Chambers Mining 2026: Rwanda (27/01/2026); LuNa Smelter, About (updated May 2025, accessed October 2026); OpenSanctions entity record for Gasabo Gold Refinery Ltd (accessed October 2026); The New Times, "Rwanda gets first gold refinery" (19/06/2019); site guide to the Kigali Special Economic Zone.
Tax
Royalties, export tax and corporate tax
Law N° 056/2024 of 26/06/2024 establishing the tax on minerals replaced the 2013 law. It cut rates, split processed and raw exports and added mineral categories. The rates sit in the law itself.
| Category | Mining royalty tax | Export tax on unprocessed minerals |
|---|---|---|
| Base metals (incl. tin, tantalum, tungsten) | 3% of norm value | 2% of norm value |
| Gemstones | 2% of gross value | 3% of norm value |
| Platinum group metals | 2% of norm value | 2% of norm value |
| Rare earth elements | 2% of norm value | 1% of norm value |
| Energy minerals | 3% of norm value | 2% of norm value |
| Gold | 0.5% of norm value | 0.5% of norm value |
Sources: RRA, "Tax on minerals reduced" (2024), on Law N° 056/2024 of 26/06/2024, Official Gazette special issue of 05/07/2024; Chambers Mining 2026: Rwanda (27/01/2026), for the previous rates of 4% (base metals) and 6% (gold). The classification of a given mineral into a category is a point we confirm with RRA and RMB.
How the minerals tax works
The norm value is the international market value on the date the sale certificate is granted to the mineral dealer, less processing costs approved by the competent authority. A local processing facility or exporter withholds, declares and remits the royalty on behalf of the miner. Where miner and exporter are the same operator, the exporter pays both the royalty and, for unprocessed minerals, the export tax. The law avoids taxing minerals sourced outside Rwanda as Rwandan production, exempts samples exported for testing within a quantity set by regulation, and exempts processed minerals imported for re-export, except gold. Export tax is declared and paid before the minerals leave the country.
Umusoro (tax) on profits and payments
A mining company pays corporate income tax at 28% under Law N° 027/2022 of 20/10/2022 as amended by Law N° 051/2023. A registered investor that earns at least 50% of turnover from exporting minerals processed in Rwanda can qualify for 15%, which matches the general exporter rule on our corporate tax page; value addition in mining is also among the listed manufacturing subsectors. A seven-year tax holiday is available from USD 50 million invested with at least 30% equity in an eligible sector. Registered investors get 50% first-year accelerated depreciation and the capital gains tax exemption. Chambers adds two mining-specific points: exploration licence holders whose exploration spending is at least 50% of total expenditure may carry losses forward for ten years instead of five, and mining equipment is VAT-exempt and can be imported duty-free with export processing zone status. Rwanda has no statutory tax stabilisation, although registered investors may negotiate terms with the State.
Withholding tax is 15% on dividends, interest, royalties and service and management fees paid abroad, reduced only where one of Rwanda's 13 tax treaties in force applies; our treaty overview lists them. VAT is 18%, and exports, including minerals, are zero-rated. Capital gains tax is 10% and, since Law N° 014/2025, reaches transfers of mining licences. According to Chambers, a direct sale of a licence is treated as a supply: 18% VAT paid by the buyer, recoverable if registered, and 28% income tax for the seller on the proceeds. RMB or RRA may revalue minerals sold below international market prices.
Sources: Law N° 027/2022 of 20/10/2022 as amended by Law N° 051/2023 and Law N° 014/2025; Law N° 006/2021 of 05/02/2021; Law N° 049/2023 of 05/09/2023 on VAT; RRA, investment incentives guide (August 2023); PwC Worldwide Tax Summaries, Rwanda (reviewed 23/09/2026); Chambers Mining 2026: Rwanda (27/01/2026).
Model the 15% rate on processed exports only. A company that sells concentrate to a local smelter, or exports raw ore, will not meet the export-of-processed-minerals test, and its plan should run at 28% plus royalty and export tax. The difference changes the valuation of most small mining deals we review.
Due diligence
The traceability rules buyers apply
Rwandan law sets traceability duties. Buyers in Europe, the US and Asia then apply their own frameworks on top. A foreign company in the sector meets both.
ICGLR Regional Certification Mechanism
The International Conference on the Great Lakes Region requires mine-site inspection, chain-of-custody tracking and export certificates for the 3Ts and gold. Rwanda implemented it by Ministerial Regulations N° 002/2012/MINIRENA of 28/03/2012 and issued its first regional certificates soon after. A certificate accompanies each export lot.
ITSCI
The industry tagging and due diligence scheme for the 3Ts operates in Rwanda with RMB and district task forces. ITSCI suspended four Rwandan exporters in 2025 for inadequate due diligence and suspended its activity in M23-held parts of North and South Kivu. Some Rwandan exporters use their own systems instead.
OECD Due Diligence Guidance
The OECD Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas (third edition, 2016) sets the five steps every other framework copies: management systems, risk identification, risk response, independent audit of smelters and refiners, and annual reporting.
EU Regulation 2017/821
Applies since 01/01/2021 to EU importers of tin, tantalum, tungsten and gold above the Annex I volume thresholds, for example 100 kg of unwrought gold. Importers follow the OECD steps, obtain third-party audits and report to their national authority. The EU publishes a list of conflict-affected and high-risk areas.
US Dodd-Frank Section 1502
SEC-reporting issuers file Form SD on 3TG from the DR Congo and adjoining countries, which include Rwanda. The 2026 deadline was 01/06/2026, with requirements unchanged from 2025. Calls to repeal the rule have not led to repeal.
Rwandan proof of origin
Under Law N° 072/2024 minerals without proof of origin attract a 10% fine and confiscation. RMB issues sale certificates that also fix the royalty base, and mining cadastre data tie each lot to a licence. A digital traceability system aligned with OECD guidance is planned with EU and German support.
Sources: Ministerial Regulations N° 002/2012/MINIRENA of 28/03/2012 (IEA policy database); BGR, "Mineral certification in Rwanda: implementation" (accessed October 2026); ITSCI statement (12/11/2025); OECD Due Diligence Guidance, third edition (2016); Regulation (EU) 2017/821 and Latvian Ministry of Foreign Affairs guidance for importers (accessed October 2026); Ropes & Gray, "US conflict minerals compliance in 2026" (16/03/2026); Chambers Mining 2026: Rwanda (27/01/2026).
A European buyer's first request is usually the smelter or refiner name and its audit status, then the mine of origin for each lot. Before you sign a supply contract, ask the counterparty for three things: the RMB licence and sale certificates, the ICGLR certificate numbers, and the RMAP or equivalent status of the smelter at the end of the chain.
Context
The regional record, as each side states it
This section reports findings, decisions and responses with their sources. It takes no position on them. It exists because every bank, buyer and auditor dealing with Rwandan minerals will have read the same documents.
What the UN Group of Experts reported
The UN Security Council's Group of Experts on the DR Congo reported in its final report published on 08/01/2025 that M23 rebels fraudulently exported at least 150 tonnes of coltan to Rwanda in 2024 after seizing the Rubaya mining area in April 2024, calling it "the largest contamination of the Great Lakes Region's mineral supply chain on record". Its next report, covering the year to April 2025 and released in July 2025, said smuggling had reached "unprecedented levels", that minerals were mixed with Rwandan production and exported as Rwandan, and that declared Rwandan 3T output was contradicted by other data. It named a Rwandan exporter as a buyer of smuggled minerals. The same report also says the Congolese army has worked with the FDLR armed group.
What Rwanda says
Rwanda rejects these findings. Government spokesperson Yolande Makolo said the experts "misrepresent Rwanda's longstanding security concerns" and that Rwanda runs a regulated, formalised mining sector with certified commercial refining. President Kagame said in July 2025 that the experts come "to confirm a narrative they already had", and in December 2025 that "whatever we have in Rwanda has nothing to do with DR Congo", pointing to tungsten, tin, tantalum, beryllium, lithium and gold proven in Rwanda and to independent geological work by Trinity Metals. In November 2025 he acknowledged that gold from the DR Congo has long come through or been sold in the region, including in Rwanda, and said Rwanda's gold exports should not all be assumed to be Congolese. Rwanda denies supporting M23 and describes its military posture as defensive against the FDLR.
The EU memorandum and the European Parliament
On 19/02/2024 the EU and Rwanda signed a Memorandum of Understanding on sustainable raw materials value chains, signed by Commissioner Jutta Urpilainen and Foreign Minister Vincent Biruta. The Commission said it saw no contradiction with its condemnation of Rwanda's support for M23. On 13/02/2025 the European Parliament adopted a resolution, 443 votes to 4 with 48 abstentions, urging the Commission and Council to suspend the memorandum immediately until Rwanda ceases all interference in the DR Congo, including exports of minerals mined in M23-controlled areas. A Parliament resolution does not suspend the memorandum by itself. On 17/03/2025 the Council of the EU imposed restrictive measures on nine people and one entity, among them Francis Kamanzi, then chief executive of RMB, and Gasabo Gold Refinery, for profiting from illicit trade in minerals from the DR Congo.
The Washington agreements
On 27/06/2025 the foreign ministers of the DR Congo and Rwanda signed a peace agreement in Washington. It provides for the disengagement of forces, the neutralisation of the FDLR, respect for territorial integrity and a regional economic integration framework. On 04/12/2025 Presidents Tshisekedi and Kagame signed the Washington Accords for Peace and Prosperity, and the US State Department published the Regional Economic Integration Framework. On minerals, it commits both states to traceability, to eliminating corruption and smuggling, to formalising artisanal mining and to a trade "free of illicit flows or conflict financing", while each keeps sovereign control of its resources.
2026 developments
On 02/03/2026 the United States sanctioned the Rwanda Defence Force and senior commanders, citing support for M23 in violation of the peace agreement. On 25/06/2026 the US Treasury designated Gasabo Gold Refinery Ltd, its chairman, its general manager and three mining companies under the chairman's control, Bugambira Mines Ltd, Wolfram Mining and Processing Ltd and Rwinkwavu Mining Corporation Ltd, alleging that at least 60 kg of gold moved from M23-held areas of South Kivu to the refinery in early 2026. Foreign Minister Olivier Nduhungirehe called the sanctions "biased" and "unjustified". The Treasury presented the designations as support for the Washington Accords. In the same period Trinity Metals announced plans for a New York listing and expanded tungsten shipments to the United States.
Sources: Reuters via MINING.COM, UN Group of Experts report (08/01/2025); Bloomberg via MINING.COM, "Mineral smuggling from Congo to Rwanda at unprecedented levels, UN says" (02/07/2025), including Makolo's statement; Al Jazeera, "UN experts cast blame on Rwanda and Uganda" (18/07/2025); The New Times via allAfrica, Kagame interview (08/12/2025); KT Press (28/11/2025); The Brussels Times on the MoU signing (February 2024); European Parliament press release (13/02/2025); allAfrica on EU listings (18/03/2025); US State Department, peace agreement (27/06/2025) and REIF fact sheet (04/12/2025); US Treasury press release SB0543 (25/06/2026); Al Jazeera, "How conflict minerals fuel war in eastern DR Congo amid US sanctions" (06/07/2026); IGIHE (17/06/2026).
What this means for a foreign company
- Enhanced due diligence by defaultBanks and buyers treat any Rwandan mineral flow as high risk under the OECD framework, whatever its origin.
- Sanctions screening at every stepCheck counterparties, owners, smelters and refiners against the OFAC SDN list and the EU consolidated list. US persons are generally barred from dealing with designated parties, and EU asset freezes cover funds owned or controlled by listed persons.
- Chain-of-custody evidenceLicence, sale certificate, ICGLR certificate, ITSCI or equivalent records and assay results, kept lot by lot.
- Reputational reviewExpect questions from your own board, auditors and customers. A written origin policy answers most of them before they are asked.
What we do and do not do
We help foreign companies set up and run lawful Rwandan businesses in and around the sector: structure, licences through RMB-facing partners, tax, permits and the documentary file that banks and buyers ask for. We do not act for, or introduce, any party designated under EU or US sanctions, and we advise only on projects whose origin documentation we can follow. Where a plan depends on minerals whose origin cannot be documented, we say so in writing and decline.
The question that stops most mineral payments at a European bank is the identity of the refiner or smelter, not the miner. If your chain ends at a designated refinery, no quality of upstream paperwork will clear the payment. Fix the end of the chain first.
Routes in
Seven ways a foreign company enters the sector
Most foreign entrants do not start with a mine. They start beside one.
1. Equipment and services supplier
Drilling, mechanisation, power, water treatment, safety and maintenance. No RMB licence is needed for the supplier itself. Article 72 favours local procurement, so a Rwandan subsidiary with local staff competes better than an importer. Mining equipment benefits from VAT and duty relief in the hands of qualifying buyers.
2. Laboratory and assay
Independent assay underpins the norm value, the sale certificate and every buyer's due diligence. An accredited laboratory serving exporters, smelters and RMB is a service business under ordinary company law, with sector accreditation the main hurdle.
3. Logistics and export services
Concentrate leaves by road on the Northern Corridor to Mombasa or the Central Corridor to Dar es Salaam, or by air from Kigali. Freight forwarding, secure storage and customs services need the usual RRA and customs registrations, and a clear policy on which minerals they handle.
4. Trading under licence
A Rwandan company with an RMB mineral trading licence buys from licensed miners and exports with ICGLR certificates. It is the route with the heaviest due diligence load and the closest bank scrutiny.
5. Joint venture with a licence holder
Equity or farm-in agreements with an existing licence holder, subject to RMB approval for any transfer and to 10% capital gains tax on licence or share transfers. Due diligence covers the licence history, community plan and rehabilitation guarantee.
6. Exploration licence
A new Rwandan company applies to RMB for an open area or bids for one of the pitchbook blocks. Four years, renewable once, with a first-in-time right to a mining licence on discovery. Losses may carry forward for ten years where exploration dominates spending.
7. Processing in Kigali
Smelting, refining, tungsten or lithium processing, or gemstone cutting, under an RMB processing licence and an RDB investment certificate. The Kigali Special Economic Zone in Gasabo hosted Rwanda's first gold refinery in 2019; a dedicated processing zone is planned at Gahanga. Processed exports can open the 15% rate.
Tax and treaties for each route
Dividends, fees and royalties paid abroad bear 15% withholding unless a treaty in force lowers it. Belgium, Luxembourg and the UAE have treaties; Germany and the UK do not.
Banking and FX
Domestic transactions are priced and paid in Rwandan francs under BNR Regulation 42/2022 as amended by Regulation 89/2025; foreign currency accounts and cross-border payments run through authorised banks. Expect a source-of-funds and origin file at account opening.
Sources: Law N° 072/2024 (Stabit Advocates, 02/06/2026); Chambers Mining 2026: Rwanda (27/01/2026); BNR Regulation 42/2022 as amended by Regulation 89/2025 (PKF East Africa, 2025); site pages on bank accounts and tax treaties.
For a first year in Rwanda, a services company beside the mines is the route we see work most often for European suppliers. It builds a track record, a local team and a banking relationship before the company takes on licence risk, and it can later hold a trading or processing licence through the same entity.
Self-check
Is your mining-related file ready for a bank
Tick what you already have. The result shows what a Rwandan or European bank is likely to ask for next.
Geography
Where the sector sits on the map
Mining is spread across all four intara (provinces); processing and regulation sit in Kigali.
The western border matters in this sector more than in any other. Lake Kivu separates Rubavu, Karongi and Rusizi from the Kivu provinces of the DR Congo, where Rubaya and the other mines named in UN reports lie. Ore and concentrate leave Rwanda by road to the Indian Ocean ports on the Northern Corridor through Uganda and Kenya, and the Central Corridor through Tanzania. Kigali, in the Umujyi wa Kigali (City of Kigali), hosts RMB, RDB, RRA and the banks. Mining sites are administered down to the umurenge (sector) and akagari (cell), which is where community plans and land matters are agreed in practice.
Sources: USGS Minerals Yearbook, Rwanda 2019; International Tin Association, Trinity Metals profile; IGIHE (17/06/2026); The New Times (16/12/2012; 29/11/2023; 19/06/2019); KT Press (28/11/2025; 27/06/2026); LuNa Smelter; site guide to the Kigali Special Economic Zone. Provinces, districts and corridors are well established.
Law
The laws this article relies on
Sources: Official Gazette of the Republic of Rwanda; Chambers Mining 2026: Rwanda (27/01/2026); Stabit Advocates (02/06/2026); RRA (2024); IEA policy database; EUR-Lex; SEC rule as summarised by Ropes & Gray (16/03/2026); OECD.
Terms
Words you will meet
Questions
What foreign companies ask about mining in Rwanda
Can a foreign company hold a mining licence in Rwanda?
Yes, through a company registered in Rwanda. There is no restriction on foreign ownership and no mandatory state stake. The Rwandan company needs at least one resident director under the companies law, and the licence comes from RMB under Law N° 072/2024.
Is Law N° 13/2014 or Law N° 58/2018 still in force?
No. Law N° 58/2018 replaced the 2014 law, and Law N° 072/2024 of 26/06/2024 repealed the 2018 law with effect from 24/07/2024. Licences granted under the 2018 law remain valid until they expire.
How long does an exploration licence last?
Up to four years, renewable once for up to four years, possibly with partial relinquishment. Work must start within 90 days, and the holder has a first-in-time right to apply for a mining licence over a discovery.
What royalty does gold pay?
0.5% of the norm value under Law N° 056/2024, down from 6%. Unprocessed gold exports also pay a 0.5% export tax. Base metals, including the 3Ts, pay a 3% royalty and a 2% export tax when exported raw.
Can a mining company pay 15% corporate tax instead of 28%?
A registered investor earning at least half of its turnover from exporting minerals processed in Rwanda can qualify. Raw ore and concentrate exporters generally cannot. We model both rates before a client commits.
Do I need a licence to supply equipment or services to mines?
Not an RMB licence for the supply itself. You need a Rwandan company or branch, tax registrations and any licence your specific service requires. Handling, storing or trading minerals is different and needs an RMB licence.
Are the EU and US sanctions aimed at the whole sector?
No. They name specific persons and entities, including Gasabo Gold Refinery and, in the US designations of June 2026, three mining companies; the US also sanctioned the Rwanda Defence Force in March 2026. Rwanda's position, stated by its president, is that they target individuals. In practice buyers and banks treat the whole sector with enhanced due diligence.
Does the EU memorandum with Rwanda still stand?
The memorandum of 19/02/2024 was not suspended by the European Parliament's resolution of 13/02/2025, which only urged the Commission and Council to suspend it. We check its status with EU sources before any project that relies on it.
Is Rwanda a covered country under US conflict minerals rules?
Yes. Section 1502 covers the DR Congo and its adjoining countries, which include Rwanda. US-listed buyers report on 3TG from these countries each year on Form SD.
Can Voixa get a mining licence for me?
We structure the Rwandan company, prepare the corporate and tax side and coordinate the RMB and RDB files through licensed partners in Kigali. Technical documents such as the impact assessment and feasibility study come from qualified experts. We do not act where origin cannot be documented or where a party is sanctioned.
Next step
A written view before you commit
Mining-related plans in Rwanda need a structure decision before anything else: which company holds which licence, who sits on the board, how profits leave the country, and what the due diligence file will contain. Our structure review answers those questions in writing, including where we think the plan should not proceed. When the structure is set, we register the company through company registration and prepare the RDB file through our investment certificate service where the incentives apply.
Our fees are fixed and quoted in writing; the pricing page explains how we scope a sector engagement. To start, send us a description of the activity, the minerals involved and your counterparties through the contact page, and we reply with a first written view.
Structure review
A paid, written recommendation on structure, licences, tax and due diligence.
Read more → IsosiyeteCompany registration
The Rwandan company that holds the licence, end to end.
Read more → Icyemezo cy'ishoramariInvestment certificate
The RDB registration behind the 15% rate and the tax holiday.
Read more → AmafarangaHow we price
Fixed fees, quoted in writing, for structure, filing and annual work.
See pricing → Murakaza nezaSend us your plan
Activity, minerals and counterparties. We reply in writing.
Contact us → Igihugu cy'imisozi igihumbiInvesting in Rwanda
Every priority sector, its incentive and its risks.
Read more →Prefer us to handle it
Structure review: a written recommendation first
One adviser, fixed prices from USD 1,500, filings through licensed partners in Kigali.