Rwanda Targets Quadrupling of Mine-Export Earnings by 2024

(Bloomberg) -- Rwanda targets a quadrupling of mineral-export revenue by 2024 as new projects come on stream, the Rwanda Mines, Petroleum and Gas Board said.

The state-run agency expects 13 new mining blocks to start operating between July and June 2019, it said in a statement emailed Wednesday from the capital, Kigali.

Earnings may increase to $600 million in the fiscal year that begins July 1, climbing to $800 million by 2020 and $1.5 billion by 2024, it said. Income last year was $373 million.

Rwanda exports minerals including gold, cassiterite, coltan and wolfram.

To contact the reporter on this story: Saul Butera in Kigali at sbutera2@bloomberg.net

To contact the editor responsible for this story: Paul Richardson at pmrichardson@bloomberg.net

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