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Govt to provide incentives to mining exploration companies

Workers at LuNa Smelter, the sole producer and exporter of tin in both Eastern and Central Africa, in Kigali recently. The Government has put in place an incentive package that seeks to attract investors in mining exploration activities, which is part of a drive to strategically reposition the country’s mining sector in the region.

Rwanda says it has put in place an incentive package that seeks to attract investors to invest in mining exploration activities, part of the drive to strategically reposition the country’s mining sector in the region.

The new incentive package was announced Tuesday, November 10, ahead of the Africa Mining Forum, by Francis Gatare, the Chief Executive Officer at Rwanda Mines, Gas and Petroleum Board (RMB).

“We are excited about a new incentive [package] for exploration companies that gives incentives for a 10 year-loss carry over,” he said during a press briefing. “This means that companies that invest in initial exploration can carry forward losses or expenses incurred during that period.” Read more

Source: The New Times

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