Rwanda Approves Minexx for Mineral Sourcing

Rwanda approves Minexx for mineral sourcing - Mining Magazine

The New Bugurama Mining Company tungsten mine in Rwanda. (Image source: Miningmagazine.com)

By: Craig Guthrie

Blockchain mineral traceability firm Minexx has been approved by Rwanda’s government to support artisanal miners.

In collaboration with the Rwanda Mines, Gas and Petroleum Board (RMB), Minexx will deploy and supervise blockchain powered technology to record and track mines’ key transactions, including miners’ payments, mineral traceability, minerals taxation, export process, supply chain corrective actions and community relations.

ASM operators will be using Minexx digital platforms and due diligence processes.  This will ensure that when ASMs extract tin, tungsten, tantalum, niobium and gold, they are transported, processed, exported and traded in a conflict free and legal manner.  Blockchain is immutable and so brings traceability, transparency and trust.

It will also ensure ASMs meet the expectations of their downstream customers namely smelters, metal refiners and tech companies that use these vital minerals to manufacture products such as computers and smart phones.

Minexx CEO, Marcus Scaramanga says: ‘’Minexx is looking forward to working with the Rwandan government and other stakeholders to bring traceability, transparency and trust to the minerals sector through our blockchain technology.  This will lead to benefits to the miners themselves through access to capital, but also to the Rwandan Government through taxation”.

Source: Mining Magazine

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