8 Hrs
Source:
الاقتصادية
Aluminum Canada and Rwanda start tungsten project
Canadian company Almonty Industries announced the signing of an agreement with the Rwandan government to develop and process tungsten ore. The agreement allows Rwanda to obtain a 25% stake in the project, while the company retains 75%. The project aims to capitalize on tungsten deposits in the Shyorongi area, spanning approximately 32 square kilometers. This will be achieved by collecting materials from current producers, including small-scale workers, and exporting or processing them to increase their concentration before establishing a centralized processing facility in Rwanda. The project also includes the creation of a local facility to add value to the mineral resources, contributing to the development of the local mining sector and creating employment opportunities. This initiative forms part of a US-Rwandan strategy to strengthen supply chains of strategic minerals, especially tungsten—used in defense, technological industries—and to reduce dependence on China. Additionally, it seeks to secure stable sources for Western markets, given tungsten’s importance for military, aerospace, and tech industries. The United States is working to bolster its partnerships with African countries rich in these minerals.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)