Asian Metal: Dear Andrey, Thanks for accepting the interview of Asian Metal. Would you like to give a brief introduction of your company firstly?

Andrey: In fact, we are composed of several companies, who engage in the production and sales business of metal and mineral together. Located in America and registered in 1998, Metals Investment Inc is mainly responsible for communication with clients, financing for production, and trading of metal products at LME. What’s more, there are two companies in Rwanda; one is mainly in charge of mining business of self-owned mines, while the other primarily takes charge of collecting and purchasing the metal concentrate from other small mines for exporting business. In addition, we registered a small-scale trading company named Minerals and Metals in Russia with the purpose of opening up the Russian market.

Currently, our leading products include tungsten concentrate, tantalum concentrate, and tin concentrate, and the main origin is Rwanda region in Africa.

Asian Metal: Africa is indeed one of the major suppliers of tungsten concentrate and tantalum concentrate for Chinese market. As a local mining corporation, what do you think of the African metal and mineral market? In your opinion, what are the advantages and disadvantages in local production and trading?

Andrey: It is quite difficult for me to judge the whole African market accurately as our production business mainly focuses on Rwanda at present. In terms of the market of Rwanda, it is really a small market. To take tungsten products as an example, the annual export value of tungsten products is around USD13 million in Rwanda as far as a know. Although prices for tungsten pick up lately, the actual profits of producers are really thin. But I think the prices for Africa origin tungsten concentrate are relatively competitive in the international market, and our pricing basis is usually Kigali ex works.

Asian Metal: The export prices for African tungsten concentrate have been showing an uptrend from early this year to date, and what’s your opinion on the price trend of tungsten concentrate?

Andrey: Much market information we have collected and our experience indicate that prices for tungsten concentrate and tantalum concentrate will move up further, especially in Jun-Aug. As it’s the traditional dry season from June to August in Africa, it’s hard to carry out the process of beneficiation and ore washing due to insufficient water resources, leading to decreases in the output of relative concentrate ore. Even if the current demand remains stabilized, prices will edge up. What’s more, we are of the opinion that the purchase volume from our customers will even increase during the period judging from the communication with our customers.

Asian Metal: However, most of the corporations including Chinese producers still complain that they gain nearly no profits considering the current price level of international tungsten concentrate. Chinese producers intended to hold prices firm during April-May, but the actual transactions were not satisfactory. Therefore, I would like to know your point of view on the development prospect of tungsten concentrate.

Andrey: To my point of view, I see favorable prospects of the exploitation and development of tungsten market of Rwanda. Recently, the local government pays much more attention on the exploitation industry and brings in foreign investment actively. But it still takes a certain period for the exploitation market of tungsten concentrate to get improved.

Asian Metal: According to the statistics from Asian Metal, the operating rate from Chinese tungsten concentrate producers was about 49.41% in March, but that may decline slightly in April-May due to limited demand and the environmental protection inspection. How is your production and sales this year?

Andrey: Benefited by the efficient management and sales strategy, our total sales volume of metal concentrate up to May doubled compared with the same period of last year. As I mentioned earlier, Metals Investment Inc engages in core business of our company with good reputation in the industry. We need seek for new customers previously, but at present, most customers initiatively send enquiries and make purchases from us. What’s more, some customers pay in advance to be supplied in priority.

Asian Metal: Just as you said, demand for your metals and minerals is quite favorable. Do you have any plan to expand capacity in the future?

Andrey: We plan to establish an independent mining company and find access to the securities market after further confirming the gross reserves of our orefield with the aim of increasing mining quantity and output of ore concentrate by raising money. In addition, our target market is not a specific region; instead, we will commit ourselves to the whole Asian, European and North American markets. We are more inclined to cooperate with end users or agents directly. Therefore, we are pleased to receive your email if you are interested, and our email address is avkrus@gmail.com.

Asian Metal: Thank you again for your sharing, and wish you every success in your business.