APA – Kigali (Rwanda) – The Rwandan Government has formalized a partnership through a Memorandum of Understanding (MOU) with Rio Tinto Minerals Development Limited, focusing on the exploration and mining of lithium in Rwanda, an official source disclosed Wednesday.
Rio Tinto Group is a British-Australian multinational company that is the world’s second largest metals and mining corporation (behind BHP).
The signing follows prior meetings between the company executives with President Paul Kagame, including one during the just concluding the WEF 2024 in Davos with Jakob Stausholm, the company’s CEO.
President Kagame had also met with Dominic Barton, Chairman of Rio Tinto for a discussion on strategic partnerships in July 2023.
Yamina Karitanyi, CEO of Rwanda Mines, Petroleum, and Gas Board, underscored the significance of this collaboration, emphasizing, “The entry of Rio Tinto marks Rwanda’s resolve to further unlock the potential of the country’s mining sector. This development is part of our continued efforts to boost and modernize Rwanda’s mining sector with the application of the highest Environmental, Social, and Governance (ESG) standards.”
Rio Tinto Minerals Development Limited, an integral part of the globally recognized Rio Tinto mining and materials conglomerate operating in 35 countries, brings a wealth of experience to expedite the exploration and mining of primary lithium deposits in Rwanda’s Western Province.
Lawrence Dechambenoit, Global Head of External Affairs at Rio Tinto, expressed enthusiasm about the partnership, stating, “Rio Tinto is excited to be partnering with the Government of Rwanda, applying our global experience to accelerate the search for primary lithium deposits in Rwanda’s Western Province.”
The timing of this collaboration aligns with the surge in global lithium demand, driven primarily by the burgeoning electric vehicle (EV) market and the push for renewable energy storage.
CU/abj/APA