Executive Interviews

Asian Metal: Welcome, Mr. Kabano Philbert, to this exclusive interview with Asian Metal. Could you please give us a brief introduction to your company?

Kabano Philbert: Our company was founded in 2013 and primarily engages in mineral trading, including cassiterite, coltan, wolframite, cobalt, gemstones, amethyst, and copper. Our main products at present are tin and tantalum ores. We own a cassiterite mine with an annual output of 300 metal tons and an average grade of 60% or higher. While our current operations focus on domestic trade, we successfully obtained an export license last year and are now preparing to enter the international market. Additionally, we locally source high-quality tantalum ore and can supply about 40 tons per month.

Asian Metal: Could you introduce the current state of Rwanda’s tin ore resources—such as reserves, regional distribution, and ore grades?

Kabano Philbert: Rwanda’s tin ore reserves are substantial. According to government data, the country holds approximately 90,000 tons of tin ore reserves. Recent exploration has uncovered even larger mineral resources, including around 1.4 million tons of tin, tantalum, and tungsten combined. Tin ore is mainly distributed around Kigali and the Lake Kivu region, with the Northern Province also being one of the most resource-rich areas, abundant in tin, tungsten, and tantalum. Rwanda has a long history of tin mining, with mature extraction technologies. The tin content in ore typically ranges from 0.01% to 1.20%. Tin ore is one of Rwanda’s major foreign exchange earners. In 2023, export revenue from tin ore reached USD 31.4 million and rose to USD 36.1 million in 2024. This year, it is expected to exceed USD 40 million.

Asian Metal: What is the current market demand for Rwanda’s tin ore exports, and what are the relevant mining policies?

Kabano Philbert: Since Rwanda lacks downstream tin processing industries, nearly all of our tin ore is exported. Domestic demand is quite limited. Global tin demand is steadily rising, with a projected year-on-year growth of about 3% in 2025. Rwanda’s tin ore exports are mainly directed toward international markets, including China, India, Japan, South Korea, Germany, and Belgium. China, as one of the world’s largest tin consumers, has particularly strong demand. The Rwandan government is actively reforming its mining sector to attract foreign investment, encouraging international investors and companies to participate in exploration, mining, and smelting through open tenders. The Investment Law, passed in 2021, removes industry restrictions and equity caps for foreign investors and allows unrestricted foreign currency transfers. Qualified foreign enterprises benefit from corporate tax incentives—headquarters and regional branches are fully exempt from corporate income tax, while others may receive a 50% tax reduction. Although Rwanda’s new mineral tax law raised export taxes on minerals, tin ore—as a base metal—remains at a relatively low 2% export tax. This favors tin ore exports. Furthermore, Rwanda applies a zero VAT policy on exported goods, exempting tin mining companies from value-added tax, which helps reduce costs and improve competitiveness. The royalty rate for base metals was also reduced from 4% to 3%, lowering the burden on mining enterprises and improving profitability. In 2020, Rwanda issued mining and quarrying licenses to 36 companies—including tin miners—enhancing supply security for the export market.

Asian Metal: How do you view the prospect of Rwanda’s tin ore market?

Kabano Philbert: Before investing in Rwanda’s tin sector, companies should conduct thorough risk assessments and market research to fully understand the local resource base, regulatory environment, and socio-political context. Sound investment strategies and risk mitigation plans are essential. We recommend fostering strong communication and partnerships with the local government and stakeholders to facilitate project implementation. Choosing a reliable local partner can also help reduce political and social risks. One especially important factor is the accurate evaluation of resource reserves and ore quality. Rwanda is rich in tin, but reserve size and ore grade vary across mining regions. Investors should work with professional geological survey and assessment agencies that utilize advanced technologies to obtain reliable data on reserves, grade, and mining feasibility. For example, in the Ruponda–Katunda block, the tin oxide content ranges from 90.5% to 99.08%, representing significant mining value.

Asian Metal: Compared to neighboring countries like the Democratic Republic of the Congo, what advantages does Rwanda offer in tin ore development?

Kabano Philbert: While the DRC also holds abundant tin ore resources, Rwanda has established itself as a major player both regionally and globally. Our long mining history and well-developed technical expertise allow us to manage costs and improve operational efficiency. For example, mining costs for 0.8%-grade ore in Rwanda are on par with those for 1%-grade ore in the DRC. Although the DRC enjoys certain cost advantages, the presence of conflict and instability creates significant uncertainty and risk. Rwanda’s stable environment provides greater consistency and reliability for investors and buyers.

Asian Metal: How do you view China’s demand for Rwandan tin ore?

Kabano Philbert: China’s tin market is currently experiencing supply pressure. Demand remains steady in traditional sectors such as tinplate and tin chemicals, while emerging sectors like photovoltaics, new energy vehicles, and smart electronics are driving additional growth. Compared to major suppliers like Myanmar and the DRC, Rwanda’s political stability gives us a clear edge in supply reliability. This makes Rwanda a trusted source of high-grade tin ore for China. With China’s growing demand from emerging industries, Rwandan tin ore is well-positioned to gain greater market share. Furthermore, the Rwandan government’s proactive mining policies and investment incentives offer attractive opportunities for Chinese enterprises to invest and collaborate, boosting the visibility and sales of Rwandan tin ore in China.

Asian Metal: What is your price outlook for the third quarter?

Kabano Philbert: Considering current challenges faced by major African tin producers, we expect tin prices to remain elevated in the first half of the year. I anticipate prices will stay in the range of USD 33,000–35,000 per ton.

Asian Metal: What are your business expectations for this year?

Kabano Philbert: We aim to leverage our strengths to overcome challenges and achieve steady growth. This includes expanding our market share, deepening cooperation and investment, and advancing technological innovation. Building on our current operations, we hope to expand our trade volume with China and other countries.