Rwanda: State acquires 25% stake in joint venture to develop tungsten

The Rwandan government will acquire a 25% stake in Almonty Rwanda as part of a binding agreement announced on Monday, September 14. In exchange, Kigali will provide the tungsten exploration concession for Shyorongi and a processing license, while Almonty will retain 75% of the joint venture.

This arrangement will enable Almonty Rwanda to purchase ore, pre-concentrates, and tailings from licensed Rwandan producers, including small-scale operators. These materials can be sold, upgraded, or exported prior to the construction of a permanent collection and processing facility in the country.

The Shyorongi concession covers approximately 32 square kilometers in the Rulindo district of the Northern Province. The partnership also includes the acquisition of a mobile unit intended to process mining tailings near existing sites.

According to Almonty, the agreement follows a connection facilitated by the U.S. State Department and is part of the economic framework established in 2025 between the United States and Rwanda. Bloomberg reports that Washington helped structure the partnership without providing direct funding.

The project also includes plans for the design of a permanent collection and processing plant in Rwanda. This phase will require a separate investment and development agreement between the partners, Almonty clarified.