Rwanda is one of the major destinations in Africa for attracting foreign investment.
President Paul Kagame has raised the image of the country to attract investors. Now, the country aims to become a global destination for lithium exploration.
Lithium is a rare earth metal whose demand is growing all over the world. It is used for the manufacture of car batteries, wristwatches, cameras, laser pointers, MP3 players, hearing aids, calculators, computer battery backup systems, remote controlled toys, etc.
It is also used for bleaching and sanitizing products, agrochemicals, aluminum alloys, cement and concrete additives, dyes and pigments, as well as pharmaceuticals.
Currently, only a few countries produce lithium and no African country is on the list of dominant players in lithium products.
However, Zimbabwe is on the list of countries with high lithium deposits. Rwanda is therefore considering becoming a major player in the lithium production industry.
The government is encouraging investors to invest in lithium exploration and processing in Rwanda.
The director general of the Rwandan Mining, Oil and Gas Board, Francis Gatare, told a group of business leaders Monday that Rwanda is ready to invest in precious metals such as lithium.
“The first geometric analyzes showed that there is a significant amount of lithium in the country with good potential for significant discoveries” .
He said exploration studies have shown lithium in areas like Rwamagana, Nyanza and Muhanga, among others.
Rwanda is also looking for more investors in exploration activities, an area that is currently less attractive to capital investors.