Rwandan tin miner Trinity Metals has secured US$3.865 million of technical assistance grant funding from the US International Development Finance Corporation (DFC).
The funding has been earmarked for ESG-specific projects at Trinity’s mining operations in Rwanda. The company, which operates the Rutongo, Musha, and Nyakabingo tin mines, is Rwanda’s largest tin producer. Since the May 2022 merger of the three mines, production has quadrupled due to major investment as well as strong government and community support.
Peter Geleta, Trinity’s CEO, commented: “Securing funding support from an important institution, like the DFC, is very encouraging and a testament of the significant progress the Company has made in the past 24 months.” Continuing, Mr Geleta said, “At Trinity we are blessed with long life ore bodies, committed employees and communities, and a supportive investment climate, this funding isa major boost and support for our vision for the Company.”
Trinity Metals Chairman Chawn McCormick added that “The funding and American partnership will significantly expand our ability to operate at global industry standards as we work with Rwanda to bring its abundant resources to international markets in a safe and responsible manner”.
Echoing these statements, representatives of DFC and the Rwanda Mines, Petroleum and Gas Board highlighted the role of international partnerships in developing the country’s mining sector and building more diverse, resilient, and sustainable critical mineral supply chains.
Our view: The significant expansion in production at Trinity Metals in the past two years fits within a climate of growing calls for a more diversified tin supply chain. ITA is pleased to see continued progress in the promotion of investment in sustainable tin supply.
Trinity Metals is a member of ITA’s Explorers & Developers Group.
